Longs are pressing into the squeeze while short liquidation density stacks just overhead. If 64.1k holds as resistance, expect a sharp volatility release — position for the break, not the drift.
- Funding +6.4% vs neutral — longs paying to stay in the trade
- Smart wallets overlapping BTC perps at an unusually high rate
- Early-wallet cohort 64% win rate vs 51% baseline — the edge is measurable