WLD This chart is the funeral of leveraged gamblers. On-chain lending and borrowing used to buy the dip shrank by nearly two-thirds within half a day; the rate of debt growth turned negative—this isn’t a pullback, it’s leveraged longs collectively running away. The price can’t even get back above the 20-day moving average; four-hour bearish candles are pressing down, and the trend was already broken. Yet people still fantasize about a rebound? Once you check the on-chain data, it’s all deleveraging. Spot holders, don’t catch a falling knife—this level is the second half of a leverage collapse. Dig down to the root: the core reason is that the fuel for borrowing leverage has burned out, and what’s left is only the liquidation/stop-loss selling.