Net buying of spot $BTC is increasing rapidly. The CVD (Cumulative Volume Delta) indicator shows that spot net buying volume has recovered to before the price decline level. Someone drove the price down through a massive selling, only to buy back the entire volume at a lower price. This is a classic pattern used by whales to induce selling of retail investors. By triggering a price drop, they incited panic selling, absorbed all the volume sold by retail investors, and recovered their holdings at a lower price point. In contrast, net buying in the futures market remains relatively small.