From a positioning perspective:
1-hour top decliners:
$FLOCK -4.83%;$POWR -3.91%;$EVAA -2.87%;JCT -2.47%;BEAT -2.07%
Hot money is fleeing these coins. Next, watch for two signals: whether large buy orders absorb the selling during declines, and whether trading volume contracts. Once both appear, then we can talk about stabilization.