Once all the longs are collected by the bears hunting for liquidations, and massive shorts open, the price will be propelled the other way once there is a few billion to be made by liquidating shorts after longs got blown the fuck out. The cycle will continue.
On behalf of market movers: thanks for playing. The funny thing is that no one who got rekt is ever gonna learn not to fuck with leverage. Leveling the playing field like today is a good thing overall for the long term by clearing overleveraged positions
- - - Updated - - -
No, consolidation after a dump almost always leads to a bigger dump.
- - - Updated - - -
That seems to be the most likely scenario, a coordinated whale dump to offset the big El Salvador news. Longs have likely opened up the wazoo, but it was time to collect.