Is AXL still worth chasing this wave? Just look at the on-chain data and you'll understand. The price has been falling, but there's an interesting thing here—the position value of the short whale is nearly twice that of the long side. Even more astonishing, 84% of these short whales are making profits. What does this mean? It indicates that the main players are quietly shorting, while retail investors are still desperately buying at high levels.

There are slightly more long whales, but their position sizes and profitability are completely overshadowed. This clear sign of short-term dominance is right in front of us. If you still want to go long against the trend, you better think it through. The market is like this—smart money and retail investors often make opposite choices.