Funding rates just flipped negative on major perp exchanges and that's the real signal here - when longs are paying shorts to hold positions, the leverage structure is cracking. We saw this exact setup before the SOL dump to 86.96, and now with BTC at 69354 and ETH bleeding 4.81%, the shorts are getting paid to stay in. This isn't capitulation yet, it's the market pricing in that the easy money long trade is over.
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