The market has entered an extreme state. Last night, BTC saw a >5 standard deviation move—its 4th worst day since 2020, following only COVID, Luna, and the FTX collapse. 📉 In our Wednesday alpha drop we highlighted two critical floors: 🔹 $76k: MicroStrategy’s average entry cost. 🔹 $69k: The 2021 All-Time High. Both levels were hammered in a single session, suggesting a major institutional "blow-up" or forced liquidation event has occurred. The focus now shifts to the 200-week moving average at $58k. Revisit the analysis to see how the technical structure has shifted: https://www.bitmex.com/blog/the-bitcoin-breakdown?utm_source=twitter&utm_medium=socials(BitMEX)