According to @52kskew, clear TWAP selling on Binance spot is pushing BTC lower (source: @52kskew). Open interest is rising while notional delta declines, indicating shorts are scaling into price (source: @52kskew). A subtle uptick in perpetual premiums and funding suggests some longs are DCA-ing into the dip (source: @52kskew). Near-term direction hinges on spot flow: sustained sell pressure is bearish, while absorption of current sells would be bullish (source: @52kskew). Traders should monitor Binance spot net selling, OI versus notional delta, perp basis, and funding to gauge squeeze or continuation risk (source: @52kskew).