$HYPE Short side home crowd!! The contract price has been smashed down to below the spot price; the basis has kept widening lower-to-higher in a way that continues to accelerate into deeper negative territory. This rebound’s paper wealth is being punctured from within the futures contract itself. As the bulls keep getting weaker on the futures side, the funding rate moves in step into negative territory—paying interest while still getting beaten. Both the daily and four-hour timeframes are heading down together. The main force’s momentum is nearly out of fuel; every push higher is really handing the shorts more chips, waiting for a breakdown to dump into deeper waters.