Right now, $BTC price action feels engineered to reward shorts. Net shorts continue to build aggressively, while net longs are being flushed out one by one. The result? A growing liquidation cluster below price clear evidence that leverage on the long side has been systematically wiped.
Yes, liquidation clusters can sometimes act as bait. Once enough longs are cleared, price can reverse sharply as new longs step in, believing the worst is over. But this time feels different.
We’re still seeing persistent TWAP-style selling slow, methodical distribution rather than panic dumping. This kind of sell pressure is rare and calculated. The last time we saw something similar was during the Galaxy Trust selling, where supply was fed into the market steadily to suppress any meaningful bounce.
That tells me this isn’t retail fear driving price. It’s controlled supply meeting thin demand.
So the real question isn’t “Will BTC bounce?” it’s “When does this structured selling stop?” Until that changes, rallies look more like liquidity for exits than genuine trend reversals.
Curious to hear other views distribution phase, or a brutal setup before a squeeze?