What’s happening on this chart is chips moving—big players are hauling entire cartons out the door, while retail investors are still standing in place counting the candlesticks. Spot large orders have seen a net outflow over three hours, drying up to an astronomical level. Across twelve candlesticks, not a single one managed to turn into a net inflow—this is distribution, not a pullback. Over the next four hours, the trend is smashed downward: six candlesticks, five of them bearish. Price is still pinned and gasping near the day’s low. Leveraged accounts borrowing money on-chain to snatch positions have shrunk by nearly half, and even the large-player accounts’ long/short ratio has turned. You’re watching that tiny buy volume on the order book like it’s a life raft, but the sell orders have already been laid out to the next layer. The cargo has been moved—what remains is just everyone waiting for a buyer to take the bags.