$ETH The order book can pretend to be dead, but positions can’t fool anyone—I’m standing with the bulls! Whale bull accounts are clearly shrinking, yet the proportion of large positions is still being pushed higher: accounts are fewer, positions are thicker, and chips are concentrating in the hands of a small number of top players— the more concentrated they are, the easier it is to ignite. On the retail side, bullish sentiment is crowded: globally, bullish accounts are over 70%, but the main players’ position still lags by a stretch that hasn’t been fully deployed; until the ammunition is in place, they’re acting as an escort-ready team. Sentiment alignment delivers the final strike too: institutional collateralization plus ETF inflows lift KOL sentiment into strong bulls—when the main players dare to add positions, the market won’t be short of fuel.