BTC $BTC longs are the ones getting wrecked first on any real dip, ETFs just sit there and bleed paper value without forced selling. Right now price is hanging around 86k watching that 82k close like it’s the last support standing, and a quick 3% slide would already start tagging the nearest leveraged long clusters. Spot ETF holders aren’t running 20x, so they don’t cascade; the perps do. That’s why I’m more worried about the open interest longs than the BlackRock bagholders if we fade hard. $ETH #BTC Price Analysis# #ETH