OGN’s price action has me numb—the open interest in futures has been slashed by nearly half in a single day. This isn’t a normal pullback; it’s the aftermath of longs getting liquidated one after another. The price has more than halved from its peak three days ago, and funding rates have stayed deep in negative territory. Longs are paying to hold their positions instead of earning anything. Who’s talking about a reversal at levels like these? Big spot orders are pulling out too, and the further it falls, the fewer buyers there are. Don’t tell me about some sharp V-shaped rebound. Any bounce after a liquidation cascade just gives the whales a chance to sell into strength. In a market like this, retail traders buying the dip are just fuel providing liquidity for manipulative whales—and they’ll be wiped out completely.