$BILL Drops 40% in a single day, with trading volume of $189 million—was this deleveraging and forced liquidation, or are there buyers stepping in?

The Fed’s June meeting minutes were just released and leaned hawkish; non-farm payrolls beat expectations, and CPI still can’t be brought down, staying at 3.3%. At the start of the week, the three major US stock indexes collectively pulled back, and capital quickly fled high-beta assets. We analyzed the past three months: the correlation coefficient between $BILL and Nasdaq daily returns has fallen to 0.12, and its correlation with Bitcoin is 0.08—basically independent. On the commodities side, crude oil is down and copper has crashed; macro risk-off sentiment boosted the US Dollar Index, while $BILL instead saw outsized volume against the trend—this looks more like a large holder’s targeted sweep to clear derivatives positions.
0.036 is already near the 24-hour low; if it holds above 0.035, try a small long position, set stop-loss at 0.033, take-profit at 0.045. Keep position size within 2%; don’t stare at the chart too closely—this volatility isn’t something retail traders play with.
Don’t just watch the chart.