$AVAX The fee rate is still positive, yet the price has been smashed down by nearly four points within an hour. All the longs’ money is stuck in their positions and can’t get out. In the spot market, there’s a net outflow of 160,000 in the last 15 minutes; sell volume is actively being pushed down while buy volume is being suppressed. This isn’t a washout/pullback—it’s funds using the fee rate as a cover to escape. At the current price of 10.75, go short directly. First target: 9.43. If it breaks through, then look at 9.00. Stop loss: 11.50. The structure has already turned into accelerating downside—so what are you waiting for a rebound?