12-hour liquidity chart: it's hit three new lows in a row over the past 4 days, with a big dump every day. There's a big liquidation position below at 70,400, a really large one. At 70,000, there's a big order on Binance spot waiting to catch it. Surprisingly, the liquidation position above is at 76,000. You can imagine what kind of market this has been over the past couple of days. Spot trading is just dumping without any care, likely because many positions were too large before, and now they're cutting losses to save the liquidation line.