Robinhood just hit a massive speed bump, crashing 9% after an incredible 270% rally in 2025. Investors panicked over a sharp drop in trading volumes—equity down 37%—and a decline in funded customers. But is the retail army actually retreating, or is this just a "hangover" after a record-breaking October? We break down the technical reality behind the user drop, the valuation risks, and whether this pullback is a danger signal or a misunderstood entry point.