$BTC leverage has been largely flushed out.

That can be healthy for the market.

When excessive leverage gets wiped out, forced selling pressure can cool down and the market gets a chance to reset on more sustainable positioning.

Less crowded trades. Less forced liquidation risk. More room for price to move based on actual demand.

It doesn’t guarantee the next move is up, but a leverage reset can create a healthier foundation for the market.

Stay patient. Watch spot demand and positioning closely.