$HYPE This rally has nobody lifting the palanquin—dragging it is just self-entertainment. Let me nail this down first: the spot market has no fuel. Big net inflows are a clean zero; over the past several candlesticks, not a single cent has come in—there isn’t even a marginal increment of funds that can be summoned. You can’t prop up even a millimeter of height with emotional shouting alone. The futures funding rate has been beaten down from above its average into negative territory. Even longs can’t cover their positions’ carry costs; the price still won’t hold. Money and sentiment are both in the shorts’ hands. This is a needle being driven into the earth’s core.