I really can't figure it out. First, ETH has been dropping less than BTC these past few days, which is already unusual. Second, ETH could easily drop and liquidate Huazi, but it always drags on, giving plenty of time for Huazi to sell ETH, convert to USDT, and lower leverage. Is it purely just to enjoy the hunting process a bit longer? Or is it that the dip is more cost-effective, so the whales are buying the dip and building positions? Is the long-short ratio so imbalanced that it can't drop further? Or is this a carefully designed setup? Coordinating with Wall Street to collect chips? Every bit of hesitation forces the weak hands to give up their blood-stained chips. The liquidity battles that happen in extreme market conditions are truly fascinating!