Price action on $BTC is getting choppy, and we're still seeing heavy liquidations on both sides of the trade.

What's interesting: a ton of longs have been wiped out even during this rally. High leverage is getting absolutely washed on these 1-3% flushes that happen multiple times a day.

This is classic mid-to-late cycle behavior — volatility spikes, leverage gets punished, and the market shakes out weak hands before the next leg. If you're trading this, tighten stops and size down. If you're holding spot, this is noise.

The cycle logic here: we're not in a smooth grind anymore. Expect more of these violent shakeouts as we push higher. Rotate into conviction plays, manage risk, and don't get caught overleveraged on short-term moves.