$PROM rose by nearly 26 percentage points, yet the funding rate is still negative. The shorts are paying, but longs aren’t really benefiting—over the past 6 hours, OI has already been pulled back by nearly a third. The active buy-side accounts for just a bit over 40%, positions are backing off, and the incoming capital lacks quality.

All I see is crowding and retreat—no fresh blood flowing in. I’m not chasing this.

#CryptoAnalysis