$BTC still looks bullish to me, but this isn’t the same rally it was at $65K

The move started with real spot/ETF demand

then the Treasury headline shifted the macro narrative, shorts got squeezed, and $BTC accelerated

now we’re in a different phase

late longs have entered, funding has picked up, and liquidation risk has flipped from shorts ➛ longs

so this is what I’m watching:

➛ $78K holds - structure still looks healthy
➛ $81K reclaim - continuation gets interesting
➛ lose $78K - $76K is the next area I’d watch

the trend is still strong.

I just care a lot more now about who is carrying the leverage up here