I don’t have any inventory in hand—how far can you really smash the coin just by using leverage?

BR’s funding rate has already been pushed into negative territory, and the long-vs-short ratio has been squeezed down to extremely low levels, but the big-holder addresses have already stopped the outflow of funds.

Even when the whole market is in panic, the order book is showing a stabilization on increasing volume—not a breakdown in line with the trend.

The short-side sentiment has vented to the extreme, but the real sellers no longer want to hand over their positions. When the order book can’t be smashed and there’s nobody willing to cut their holdings, this highly crowded batch of short positions will sooner or later turn into a booster for an upward rebound.

#BR