$BTC There simply is no downside liquidity left to be hunted. With yesterday’s dump into the $73k region, the final cluster of long liquidations has been taken out, leaving only roughly $1B in long liquidations down to $71k. A move back towards the highs around $87k, on the other hand, would trigger roughly $11.5B in short liquidations. Major reversals usually happen when most market participants aren’t positioned for them. So, considering the current level of uncertainty in the market, I think we’re much closer to that reversal than most people realize.
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