To be honest, BTC has started acting up again. Negative funding rates indicate that the spot price is lower than the futures price, possibly because short sellers outnumber longs. This situation provides endless ammunition for rogue operators to trigger cascading liquidations of highly leveraged short positions. The liquidation heat map clearly shows this—6.4, 6.5, 6.6, 6.7—all were pushed up by liquidation cascades. The next liquidation zone is at 67,800; I suspect the rogue operators won’t let this opportunity slip. The next major liquidation level is at 75,000—far away. If it reaches there, this bear market is truly over. I’m staying in with low leverage because I firmly believe 60,000 is absolutely not the bottom! Bear markets are times of despair—but right now, market sentiment is euphoric, and many big players have switched to long positions. Such a nauseating market.