$BTC positions were cut by almost 10%, and the 8,300M simply evaporated. The trend is still moving downward—this is what a long (bull) capitulation looks like. Bullish positioning is still high; the price can’t keep up early, and the gap will only tear wider. Short directly at 84,000, target 80,819, then see 75,975; stop loss 87,385. Those holding positions—wait and get buried.