SOL is dipping, but spot buyers don't seem to be backing away. Price has been grinding lower, with the recent sell-off looking largely driven by perp activity. But the interesting part is what's happening underneath. Spot CVD continues to trend upward even as price struggles to recover. That divergence suggests buyers may be using the weakness to accumulate rather than rushing for the exit. Now, that doesn't guarantee an immediate reversal. solana:So11111111111111111111111111111111111111112 is still hovering around $104, and the market needs to show that this buying pressure can translate into sustained price strength. But if sellers keep pushing price down while spot demand remains firm, the next squeeze could catch a lot of late shorts off guard. Price is showing weakness. Spot flows are telling a different story. I'm watching to see which one wins.