$NEAR Absolutely short!

In the past 24 hours, NEAR's bulls and bears have been fiercely battling, with $2.26 million in short positions liquidated, seeming more tragic, but the 4-hour long positions only lost $7,951, while shorts reached as high as $63.9k. This indicates that the bulls have long run out of steam; every rally is just a weak flash in the pan. Smart money's long-to-short ratio is as high as 183%, but the average cost for chasing highs by longs is above $2.11, with current unrealized losses exceeding $2.53 million. Once the market turns, the trapped orders between $2.10 and $2.36 will have no capacity to absorb buy orders. I’ve directly heavy-allocated $380k in short positions near $2.37, waiting to harvest this wave of false prosperity!

1. Liquidation data exposes the bulls’ fatigue: Over the past 24 hours, it seems shorts are liquidating more, but that’s just the residual effect of bulls forcing a short squeeze with AI-driven narratives. The 4-hour long liquidation is only $7,951, but shorts reach as high as $63.9k, indicating that bulls have exhausted their strength. Once buying momentum falters, the piled-up chasing positions above will turn into fuel for a chain reaction of sell-offs.

2. AI narratives are castles in the air: NEAR’s AI Agent Market, launched in February, has almost zero real usage data, with on-chain activity heavily dependent on two apps’ bot-generated traffic. Rhea Finance was just hacked, losing $18.4 million, and major lending protocols have collapsed, causing market makers to withdraw en masse. Without real users and backing funds, AI stories, no matter how loud, are just bubbles.

3. Technical upgrades become catalysts for bearish signals: The upcoming June dynamic sharding upgrade always turns good news into bad news in crypto. If the upgrade is delayed or encounters issues, all speculative expectations will collapse instantly. Currently, the market relies entirely on leveraged longs; once incremental buy orders stop, the price will quickly fall below $1.80.

Heavy-allocated $380k in shorts, waiting for this AI bubble to burst and bury all chasing bulls!