$BTC Funding rates are insanely negative, and longs are all trapped. Almost no one who entered since August is in profit. Last night, the price plunged to 62,000, with the 200-day moving average hanging overhead above 73,000. $1.67 billion in long positions were liquidated in 24 hours, and spot ETFs are still seeing outflows. The Fear & Greed Index has fallen into the Extreme Fear zone. At levels like this, most people wait for a rebound to cut their losses, while a few buy in gradually.