Can someone please explain why, for the most part, everyone is just sitting on futures in long positions and hoping? It was clear back in early December that a correction like this would happen. I don't understand, do some traders' beliefs not allow them to open short positions??

Even looking at the weekly chart $ETH

one could understand that it would drop.

The same goes for $BTC

It's clear that it's not critically down, but the correction is evident.

What I'm getting at is that it's just a bit amusing to see screenshots of how people are sitting in longs with huge leverage and hoping until the last moment that everything will take off right now. Despite all this, they look at charts with a maximum of hourly timeframes, although I've seen a couple of posts where they suggested opening a long based on a 15-second!!! chart.