📉 $Hype Decline 📍Large-scale long liquidations. $23 million in long positions liquidated. Futures open interest (OI) has decreased, funding rates have dropped, indicating a reduction in excessive leverage. Individual traders who entered with high leverage are cutting losses, increasing selling pressure. 📍Bitcoin is declining; altcoins are broadly weak. 😮💨Recent holder selling has been significant. Movement detected in wallets linked to a16z. Long-term, the trend remains bullish— we are in a zone of confidence.
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