I can’t listen to LTC’s long narrative anymore. The position size is visibly shrinking—nearly a tenth of the positions disappear in a day—and while the price keeps grinding lower in a bearish drift, this is not “washing the market,” it’s actively surrendering. The spot side is even uglier: after three hours, we’ve already seen net outflows with not a single solid inflow candle—big orders are fleeing, not entering. Year over year, Bitcoin is just drifting down; the rebound highs keep getting lower, and it can’t even hold above the zero line. Who is still waiting for a reversal in this market? The money has already run off; what’s left are people standing guard.