$BTC setup looking shaky here.
Spot side saw aggressive selling today — clean distribution. But here's the twist: spot CVD dropped while perp CVD climbed. That means price is getting propped up by short squeezes and fresh leveraged longs, not real demand.
That's a weak foundation. Likely scenario: one more leg down to flush out the late longs before any real bounce can take hold. Watch for that dip — it's probably coming before the next move up.
Spot side saw aggressive selling today — clean distribution. But here's the twist: spot CVD dropped while perp CVD climbed. That means price is getting propped up by short squeezes and fresh leveraged longs, not real demand.
That's a weak foundation. Likely scenario: one more leg down to flush out the late longs before any real bounce can take hold. Watch for that dip — it's probably coming before the next move up.
