Anyone still treating shrinking positions as a signal to jump in probably hasn’t seen what it looks like when the banquet tables are being cleared. The price is stuck below the moving average, unable to lift its head; the four-hour chart looks like an ECG; and open interest has withered by nearly 10% in a day. This isn’t a shakeout—it’s the big players handing their bags off. Whales are cutting their positions too, spot buying is even thinner than selling, and the big orders haven’t made so much as a ripple. I’m done hearing about how this sideways action is building momentum. The money is running, and you’re the only ones left in the arena guarding the door for the market makers. I’m out.