Of course, there are times when the market simply breaks away without sweeping the downside liquidity. A bear market lasting all year due to high interest rates, the Luna collapse, and the FTX crash—by the end, long positions were utterly decimated, and the market was nothing short of a wasteland. “Bitcoin is a scam; you’re still buying it?” We confirmed the market bottom, having already absorbed substantial liquidity below $20K, and then, refusing to allow any lower lows, short positions surged—only for open interest to be obliterated as the rally finally began. Is this the same situation now? Short liquidations have occurred, but open interest has also increased. The real bottom begins when open interest dies. Put another way: seeing this clinging long positioning, I simply don’t believe this is a genuine reversal. It could still rise further—$80K? Sure, it might surpass that. But is this truly the bottom? Will it never drop below $60K again? I don’t think so. Either the low gets swept and prices rise, or the longs here—currently built on shorts—are wiped out. I’m not willing to load up on longs without direct evidence of such a cleanup. This is my personal opinion. Please do your own research.