I looked at the Bitcoin futures market, and although there was a large number of long positions liquidated earlier, the total open interest across the network has not decreased but increased, and the funding rate has not turned negative. This clearly does not conform to normal logic. Further examining the data on the long-short ratio of major wallet addresses, it can be seen that since the decline began on the 15th, this ratio has risen from 50:50 to the current 74:26. This indicates that some investors are continuously increasing their long positions during the decline.