When longs turn into fuel, shorts are the true "holders," who would have thought that the phrase "The bulls will never be slaves," often shouted a few years ago, would turn out to be a prophecy😭.

The correction in mid-March appears to be a typical Taco trade by 📈, but in reality, it is not an ordinary correction.
On March 17th, Bitcoin was at $74,883, with the position index 30-day moving average +3.0. The bulls are celebrating📈.
On April 3rd, Bitcoin was at $66,603, with the same index -3.1. The bears are quietly accumulating📉.
superficially an 11% drop, but the real danger is: longs are being systematically and daily forced to close positions, while the red bars representing shorts have disappeared for a full six months☠️.
The 18.6% liquidation oscillation indicator is not volatility; it’s a count of dead bodies☠️.
Many people are still asking, "Where is the bottom?" But true traders (prepared to lose and go in🌊) should ask: who still has ammunition? Who is being forced to sell?
Since October 2025, the market has not seen a structure dominated by short liquidations. This means:
Over the past six months, every rebound was not short covering; it was longs bleeding themselves. Liquidity is not being squeezed in the opposite direction; it’s only being consumed unidirectionally.
This is not a confidence issue; it’s a math problem.
As long as the 30-day moving average does not reverse downward, and as long as the red bars do not return, every time someone says "I think I can bottom out," they are stabbing the shorts.
If the price cannot break through the resistance zone around $69,000, then $66,000 will be hard to hold. Not because it "should fall," but because the current derivatives structure does not allow the market to rest.
Risk avoidance is not pessimism. It’s about helping everyone understand the language of positions through on-chain data📊 analysis while everyone is watching the price.