$LINK The speed of short-term capital outflows is more honest than the price decline. Large spot orders are flowing out continuously, 15-minute net outflows are still accelerating, and large order inflows on the three-hour level have already lost continuity. One clear phenomenon is being observed: some are using the previous gains to exit, and the pace of cashing out at high levels has not stopped. The borrowing ratio on the leveraged side is still at a high level, but the growth rate of liabilities has already started to slow, and leveraged funds are also shrinking. $X above is the key to recovery; if it cannot be held, then this rebound is just an interlude, not a trend. Don’t get too carried away.