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$BTC didn’t crash from one headline alone.
The market was already fragile.
Outflows were slowing, liquidity was thinning, and traders kept forcing aggressive longs into weak momentum. Then macro pressure hit and the reaction became automatic.
Result: over $109.7M in long positions wiped out as leverage cascades accelerated the move.
This is what happens when positioning becomes too crowded before real demand returns.
Market structure matters more than emotions. #BTC #macro
#GateSquareMayTradingShare