BTC One's entry is another's exit During these times orderflow tools end up being quite powerful for two reasons - deep insights into whats actually pricing the market & why - avoiding traps & market imbalances caused by market positioning A recap of what happened here Price jumped 3.6% ish entirely off temporary spot passive flows & vulnerable overweight positioning in perps being short positioning prior to price jumping 3.6% perps showed a persistent ask depth & orderbook imbalance of "over supply" however in perps this just really means net positioning being short & can also be caused by one large position now this becomes very important & valuable information especially in this market where one persons position is another's exit liquidity, which sums up this move - price grinds higher - large short risk profile gets triggered - short position attempts to scale out without cause price to jump - a firm likely doubled down at this point (buying) - price screams higher very easily in this situation - short gets rekt & this creates a clear inefficiency in the market - same firm buying exits into this inefficiency & retail liquidity Big win & pay day for said firm & otherwise for the market whipsaw price action, which catches offside positioning / liquidity(Skew Δ)