Waiting for the chain-game pullbacks, waiting for output inflation to drain the pools dry, waiting for the community to shift from “mining for profit like a tiger” to “even digging graves feels too exhausting.” Recently, I’ve looked at on-chain data from a few chain games: the gap between output and consumption keeps getting wider the more it’s dug, in-game item prices keep sliding down, yet the people who mine for profit are still just pushing through—plain and simple, they’re waiting for the final wave of sell pressure. The funding rate is also wildly extreme; both longs and shorts are placing their bets, but I think it’s more like “waiting for one direction” than a reversal. Either way, I’ll keep crouching and we’ll see who can’t hold on first.