This leveraged sell-off just smashed you in the face—prices fell from above and never got picked up. Open interest shrank by a large chunk in a single day. In the contracts, those long positions ran faster than anyone, proactively selling and pinning the already-paper-thin buy orders under friction. On the spot order book, the incoming buy volume is less than a third of the sell volume, and large orders are still being withdrawn. This isn’t a “washout” at all; it’s simply that nobody wants to take it. The trend is sliding downward: each new low is lower than the last. For the brothers still on the train, don’t fool yourselves—set your stop-loss where it should be, don’t wait until the operator has completely dismantled the car before you remember to jump ship.