no exchange flow worth naming today, so this one's all positioning.

the crowd is loud on $AVAX, 73/27 long, price up 6.9% on the day, textbook chasing green candles. but the fresh money tells a different story: -$1.8M left AVAX positioning today. crowd's piling in while size is actually coming off.

$SUI's the mirror version: 71/29 long into a red day, -2.1%. longs stacking against the tape.

$NMR shorts are paying up to -0.165% funding just to stay short, that's not a free ride anymore.

watching tomorrow: whether AVAX longs get proven right or get squeezed out by the money that already left.

NFA