The leverage borrowing ratio on the SUI chain surged nearly twofold in a short time. The long/short position ratio in the coin-margined leverage accounts has already been pushed to an extreme imbalance of two hundred times—this is not what a normal pullback should look like. Someone is borrowing money to aggressively accumulate positions, and it’s all out in the open. The spot large orders saw net inflows over the past three hours at an enormous scale: all twelve K-lines are positive. The main players have effectively welded a solid bottom underneath with real money. Retail investors are still waiting for a pullback to jump on board, but on-chain leverage and spot large orders have already driven the car away.