Zooming in on positioning. Bitcoin Cash is a tell.

Bitcoin Cash trades at 241.99 with the weakest funding backdrop on the board: funding is soft, with a z-score of -2.2, and open interest is steady. The price is pinned in the 241.8 - 242.3 zone, absorbing sell pressure but never really breaking down or up. Fifteen tests of support without a directional move, this is a wait, not a trade.