$APR crash hasn’t finished yet—every rebound is an escape position. In three days it was smashed from 0.6325 down to 0.1754; one daily candle cut 64.54%. The contract open interest quadrant was directly beaten into bear capitulation—this is not a pullback. On the order book, the buy-side looks 5% thicker than the sell-side, yet the price still can’t even hold above 0.20. This buy-wall is a take-over wall, not a floor. The funding rate is up at 0.0413%; over 8 intervals, longs are all paying to hold and take the order. Sooner or later these positions will close out and drop the market. Rebound to 0.20 to go short, target 0.1754/0.0645, stop loss 0.24.