10.26 — Over the next six months, most people will be liquidated and exit the market. When BTC broke $75,000, every KOL on the network was shouting that the bull market had arrived and urging everyone to buy the dip. When BTC surged past $83,000, even the most steadfast bears flipped to longs and bought on the rally. When BTC fell back to $80,000, most traders had already exhausted their capital going long. When BTC dropped back to $75,000, most began going long on a coin-denominated basis. As BTC continued its decline—not just to $70,000 or $60,000, but all the way to $40,000—all leveraged long positions will be liquidated.