RIVER spot buyers are reporting large demand, with a scale in the 16-17 range (approximately $50,000), continuously pushing up the price. Seller liquidity is extremely scarce, with only about $5,000 visible in depth, using TWAP strategies to cross the market price, aiming directly at triggering short covering. Data shows that about 10 wallets control 90% of the supply, and this extreme concentration of chips makes the market highly fragile. The spread between spot and perpetual contracts could rapidly widen, similar to the previous COAI market movement. The market lacks sufficient depth to absorb such a large buy order, and once sentiment shifts, a chain reaction could be quickly unleashed.