$LAB Just look at how the big-wallet addresses’ holdings change to know what’s going on. With spot, you can make a quick, small profit; on the futures, make sure you set a stop-loss. If you keep doing that—pumping and then pulling back repeatedly—most of the time you’ll end up getting liquidated. As for the changes over the past few days, if you used futures short positions to hedge the losses from the spot, the funds wouldn’t have been wiped out—instead, you could have made a nice profit.