4-hour liquidity chart This kind of market has nothing to do with the contract market anymore. Most of the big long-position players are taking orders in the spot market and passionately advising everyone: don’t short at 90k, short at 60k. Here, the people going long in the contract market are still more aggressive, while most of those shorting are staying silent. The main force behind the sell-offs is still in the spot market. That 60k large spot order on Binance hasn’t moved and is still hanging there, waiting. It’s been almost a month now.