$BTC Oh wow, this short-term rebound can’t even be kept down for four hours by the system’s verdict—momentum gets directly classified as exhausted, and longs can’t pull anymore. Open interest shrank overnight by a chunk, and it keeps getting dumped lower— the roulette wheel basically seals the decision: longs surrender their positions, and this position is in mass capitulation. The funding rate is still sitting in positive territory; every second longs keep holding is paying protection money to the shorts. And the basis has flipped into a discount—deeper and deeper the more it discounts. Honestly, this round is just a meat grinder that’s only now starting up: each rebound just feeds the sell orders sitting overhead. Real money is being pushed straight into this, all to let the shorts get paid for free.