#NEAR Spot prices are being pushed up by funds, while the futures basis discounts the price—negative value is still deepening. This split-market setup is one where the shorts are essentially risking their lives to prop up the longs. On the contract side, the aggressive long/short ratio has surged by 1.7: the buy orders nearly doubled over the past seven hours. More than 60% of the成交 took place in the scramble to go long. The shorts are stubbornly holding their positions and staying in贴水 (at a discount); every second of resistance is burning margin. On the spot side, over the past three hours, the funds have turned twelve consecutive K-lines all green. The spot and futures ends are resonating on both sides—what the shorts hold is the sacrifice for this round.