Looking at BEAT's recent trend, changing the fee from 1 hour to 4 hours is a detail that quite indicates the issue. Usually, what does such an adjustment imply? Liquidity expectations are changing. Just a guess, most of the large holders have already run away, dumping all their chips. Those still smashing in now are probably small and medium retail investors caught in a margin call wave, or short sellers building positions frantically.

The most awkward are those long positions that got trapped, watching helplessly, as there will be no more large-scale rebounds. No big players to support the market, no incremental funds, no obvious volatility to bear. That's it, the market has no more stories to tell. It’s a bit heartbreaking.