$YB I really just can’t understand how anyone still dares to take longs on a market like this. For three straight hours there’s been net spot outflow without a single break; there isn’t even a decent pullback, let alone any meaningful recovery. On the futures side, the market is actively selling longs, pressing the buy orders down; positions have been cut by a large chunk within a single day, and the funding rate still stays positive and refuses to ease—after getting beaten up while holding longs, you still have to pay protection fees to the shorts. Over four hours it keeps trending down in a gloomy slide; each bounce is lower than the last, and it’s only about one-tenth away from the historical high. There isn’t even a sign of stabilization. If someone takes a long here, I can only say: you’d better take care of yourself.