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MicroStrategy's sell-off directly opened the market's downward catalyst
Currently, the market is dominated by futures as the main battleground. Once prices drop slightly, it triggers a chain of liquidations (long squeezes), forcing more people to sell, further pushing prices down.
Coupled with the aggressive ETF sell-off, the downward sentiment spreads even faster. Since breaking below 70k, the market has completed a full liquidation of long leverage in just 2 days, with a 12% decline, directly approaching this year's low of 60k. The decline is accelerated by fear + liquidation.
Spot funds are flowing out strongly. Drop quickly to 53k, then go pick up the dead bodies 😭😭