$SOL boom! The price is hitting fresh highs all day, yet the order book is bowing to the shorts—sell orders on top have clearly greater depth than buy orders below, and the bid-ask spread is so tight it’s practically贴零, but it still can’t fool anyone. When the price climbs to the top, nobody dares to take buy the next order; this new high is the fireworks the distribution desk sets off. In the spot market, bulls and bears are squeezed into a ratio of more than ten to one, leverage borrowing is nearly zeroed out, and all that’s left is liquidation and stampede.