BTC I really can’t make sense of this round—retail accounts’ long/short ratio is almost a fifty-fifty split, yet the whales’ positions have swung to a long/short ratio that’s more than double. Longs make up nearly 70% and they’re still adding. Isn’t this clearly picking up chips in a low-price range? Spot’s three-hour funds have been continuously green for twelve consecutive candles—no, actually all green turned red, with every single one turning negative; batches of large orders keep stepping in one after another, and the order-book bids are about half thicker than the asks. Where’s the panic coming from? The candles hugging the lower end of the phase are correct, but that bullish candle that bounced off the low point three days ago isn’t fake. Derivatives open interest has been expanding for seven hours—so there’s really no need to overthink the direction. Like a mantis trying to stop a carriage, it can’t block the collection of chips. It’s only that short a distance from the high—just wait and see it get stabbed back with a single needle.