I really don’t understand this market setup—positions keep piling up, yet the price just slips down as if it hasn’t eaten. It can’t even go up, and the four-hour net decline is close to three percentage points. Short- and medium-term moving averages are all underfoot. Laughable: the share of longs in big accounts has dropped by nearly 10%. They already turned around, while retail investors are still moving bricks, picking up inventory, thinking that the bigger the position, the more confidence they have. With a negative funding rate staring you in the face, even the longs don’t want to pay fuel costs. Hard holding just means watching the dealer play. Anyone still buying long at this spot is basically digging a trap for themselves—waiting to be buried.