I spent a while discussing this with friends in the group: Over the past 24 hours, $82.578 million worth of contracts were liquidated across the market, wiping out both longs and shorts.
The bias is bearish. If you're thinking of buying in, wait for the selling pressure to ease first.
I just came across this while scrolling on the way, and immediately thought of my own positions.
$BTC .

#BTC

This is not a trading signal.