This price action is pressing so hard I can’t even catch my breath—when the price hugs and slips along the moving average downward, the futures fee rate somehow turned negative. And while the bulls are still out there holding positions to support the market, the proportion of long positions in the big accounts is quietly shrinking. The market keeps falling but somehow there are people propping it up—yet those propping it are cutting their positions. Isn’t this the classic move of using your face to catch the knife? You think it’s the bottom, but it’s really mid-slope.