Before 12 a.m., the fee rate was -1.7%, and I opened 20 long positions with 50x leverage. Honestly, my initial thought was very simple— as long as this fee level stays the same, I just need to wake up in the morning without getting liquidated, and no matter how big the drop, I won't lose too much. As a result, I was a bit anxious that first night, every hour I was afraid the market would suddenly plunge, but luckily I made it through safely. By morning, I had about 80-90 USD in unrealized profit, so I was planning to grab breakfast and relax. But then, right after turning around, the market crashed sharply. However, from another perspective, considering that the market maker has maintained a negative fee rate for so long, it’s unlikely that it’s just a one-time dump. According to the usual pattern, after a bullish surge, there’s a high probability of a reverse drop by the bears, which is the complete cycle of harvesting the retail traders. Altcoin contracts follow this pattern—being able to withstand the downward pressure is the key to making money. I won’t add to my positions to average down, nor will I panic buy the dip just because my account turns from floating profit to floating loss. Currently, the fee rate has returned to around -0.3%. From my perspective, many short positions are probably itching to act at this point. Based on previous patterns, the bulls are very likely to push the price up again.