$BTC This chart feels more and more wrong—the 1-hour candles show four bullish and two bearish. Price is crawling upward, riding along the short moving averages, but the 4-hour timeframe is still dropping. The daily chart just got covered by a straight bearish candle. On the spot side, within three hours there were 12 sampling readings, and the funds keep getting pulled out one strand after another: five consecutive large orders are all net outflows, like pouring water into sand—put in how much you want, it just leaks away. The futures are even more fake: open interest is still sitting at a high level, and the system even labels it with “shorts capitulating”—yet the price didn’t rise; instead, aggressive sell orders are pressing down the buys. So is that called capitulation? That’s just the bulls lying down and giving up. The basis is at a discount, and the funding rate is still pinned in negative territory. Any bounce upward is just providing liquidity to the people who are trying to run. By the time everyone realizes this move was only a “flash-in-the-pan” scheme to lure longs, the market has already slipped back to near the daily lows.