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Let me explain
$BTC dumped to liquidate billions of longs
Degens flipped short.
President Trump revealed a new deal coming soon. Market pumps and liquidated the degens.
Degens flipped long. Thinking yeah the deal is close, max long.
Now the market liquidates long again.
The open interest just dumps further. 12 billion USD in OI flushed since 82K Bitcoin.
Remember CME futures closed around 75.9K on Friday.
Everything I said here I prepared to my subscription on Friday already. 🤝