So $BTC slipping below $84,000 matters less than how it happened.
#coinglass data shows #bitcoin near $83,600, down roughly 2.9% in 24 hours. Across crypto, $555.6M was liquidated during the selloff, including $487.2M of longs. Bitcoin futures accounted for about $154.3M in liquidations, while BTC open interest still sits near $55.2B.
That looks like a leverage reset, not proof the reset is finished. Forced selling removed a crowded layer, but plenty of exposure remains while oil, Treasury yields and the dollar still pressure risk assets.
The next test is $82,000–$83,000. If it holds after the liquidation wave, buyers absorbed the flush. If it breaks with open interest still elevated, another round of forced selling remains possible.
#coinglass data shows #bitcoin near $83,600, down roughly 2.9% in 24 hours. Across crypto, $555.6M was liquidated during the selloff, including $487.2M of longs. Bitcoin futures accounted for about $154.3M in liquidations, while BTC open interest still sits near $55.2B.
That looks like a leverage reset, not proof the reset is finished. Forced selling removed a crowded layer, but plenty of exposure remains while oil, Treasury yields and the dollar still pressure risk assets.
The next test is $82,000–$83,000. If it holds after the liquidation wave, buyers absorbed the flush. If it breaks with open interest still elevated, another round of forced selling remains possible.