Caught Bitcoin taking a beating over the weekend—down nearly 5% in just a few hours. That kind of velocity is wild, especially when you're watching leverage getting liquidated across the board.

I've been trying to piece together what drove this latest selloff. Macro sentiment is obviously rough right now, with the fear-greed index sitting pretty low. The Trump tariff situation has people spooked, and that uncertainty is pushing money away from anything that looks momentum-driven. Add in all the AI narrative stuff and rising valuation concerns, and you've got a recipe for risk-off moves.

What's interesting is how correlated Bitcoin has become with broader risk assets. Used to be the uncorrelated hedge story, but that's kind of dead now. The leverage in crypto derivatives is still massive, so any move down gets amplified fast. It's the same cycle we keep seeing—weakness drives liquidations, which drives more weakness.

Current sentiment is definitely bearish, and I'm seeing a lot of traders just sitting on the sidelines waiting for a real reversal signal. Hard to say when that happens, but for now Bitcoin's just grinding lower with everyone cautious.