$SOXLB is currently at 100.02, almost right on the floor of its 24-hour range—99.13–106.81, just 0.9 above the low, at the 12th percentile of the range. Yet trading volume is 39.8 million, 1.77 times the 7-day average: it’s down 3.96% on nearly double the volume. This isn’t a quiet drift lower; some are dumping while others are buying. It tracks a 3x leveraged semiconductor ETF, so it doesn’t move in sync with the broader crypto market. Over the same period, BTC rose 1.73%, leaving it behind by 5.7 percentage points. I don’t think a high-volume plunge to the bottom of the range is automatically a buying opportunity—high volume with the price holding steady is support; high-volume selling is just turnover. 99.13 is the only line that matters: if it holds and the price closes back above 101, I’ll call this a panic selloff. If it breaks below, there’s no reference point.