UNI’s leverage lending growth is so outrageous it’s basically exploding—within twelve hours it’s more than tenfold, but the spot long ratio gets slashed by half, then slashed again by half. You think leverage is being added, but in reality the market maker borrows money to keep the price under pressure and unload inventory. Spot has had twelve consecutive candles with all funds net negative—longs are basically gambling with their lives here. If you’re lucky and you’re right on direction, you only profit because before the move started they didn’t blow up your positions. Don’t bottom-pick—watch what I’m short first.