ETH, this chart—big orders are getting pulled, prices are inching lower in a downward grind. The bulls are still squatting below the moving averages waiting for a rebound—waiting for what, exactly? Spot capital has been seeing consecutive net outflows. The bid is thin, like paper. Price just keeps scraping along the lows, and any rebound has no real volume behind it. Open interest is still holding up, but that’s long-side positioning propping things up, not fresh buying coming in. The trend line keeps dropping lower and lower; the candles keep closing shorter and shorter. This isn’t a correction—it’s clearly a downward drift with no one stepping in to take the bids. Don’t fool yourself with “oversold rebound.” Funds have already left, and you’re still on guard duty.