I can’t be bothered to keep confirming this order book. The aggressive shorts have already been welded onto the steering wheel. Price hovering right next to the lows doesn’t mean it’s safe—derivative contracts’主动卖压 has overwhelmed the buy side by nearly a half, and there’s not even a hint of spot capital net inflows over the past three hours. This is what you call a weak rebound; this is what you call longs still using their faces to catch the falling knife. If anyone thinks the downside is “fully flushed” and it’s time to bottom-fish, I suggest you check whether open interest is still climbing. The shorts haven’t left at all—positions are piling higher and higher, waiting for you to take that meat. Slowly boiling a frog—this is exactly how it’s boiled: looking at price but not at capital.