TAO rate is down in eight consecutive rises, price eight hours of slow sinking—bulls pay fee again and again to hold on hard; funding fee average is 0.004% and minute by minute they’re effectively subsidizing the other side. How many more days can this market still hold? Price 233.4 is below the moving average; in the 1h chart, out of six K-lines five closed bearish. The low point has collapsed from 235.8 down to 230.4. Even the rebound couldn’t touch 236. In 7d it has fallen from 277 all the way down by 12%, and nobody is stepping in. Open interest hasn’t collapsed, but the funding rate is already paying the shorts. Every minute the bears endure, they lose more. Short at 235.0. Targets 225.5 and 218.5. Stop-loss 245.2. Avoid for the long term.