$INX 24h falls 23.241%, yet the funding rate is still posted at +0.0674%—the longs are still subsidizing money to hold their positions. When it comes to active buy/sell, it’s only 0.622 left; in the past 15 minutes it’s down further to 0.435, and sell orders get eaten one after another!

In the past hour, trading volume is only 0.29 times the 24h average. The position value increased just 0.13% to 2.5505 million. No one is taking it, and no one is cutting it. If the fee rate doesn’t drop and instead becomes a crowded signal—this is read as longs hard-holding during a slow, shrinking-volume decline. Invalidation condition: unable to reclaim above 0.00602 from one hour ago; weakness continues.

#INX