The order book gives the signal first: -12%. In the Alpha sector, this drawdown isn’t the worst, but the trading volume is interesting. The成交量 is 4.7 million USD; compared with the past few days, it’s clearly an increase in volume. What does a drop with rising volume indicate? Some people are exiting, but others are taking over. I’ve been looking at a few large-holder addresses—over the past couple of days they’ve been buying in batches, not all-in at once; it looks like slow order fills. This tactic is either foolish, or they know something. Community sentiment is pretty split right now: half the people are cursing the project team, and the other half are calling for bargain-hunting. In times like this, I usually don’t look at sentiment—I look at the funding rate. The funding rate hasn’t reached an extreme negative value yet, which means the shorts aren’t completely overcrowded. So in the short term, it may still drop further. At the $AKE level, 0.0297 is today’s low and also a support zone from the earlier period. If it breaks, we look at 0.027; if it holds, it forms a double-bottom structure.