The ideal scenario would be for BTC to push higher into the midterms, build a bullish narrative and sweep the highs. Then, as in previous cycles, we get a corrective move after the midterms. This time though, that correction wouldn’t lead to a new cycle low. It would establish a higher low instead. That feels like the most plausible scenario to me. If we dump into the midterms, I think we’re more likely to pump afterwards towards 95K. Nearly 2B in longs have just been liquidated, and the midterms are only 3 weeks away. In my view, the maximum pain scenario would be a move back up into the midterms, after one side of the narrative has already been wrecked, followed by a reversal that catches the other side before the market derisks again. The midterms will likely be framed as either a bearish or bullish catalyst. But given the current price action, sentiment, and the fact that one side has already been taken out, it looks like shorts are more exposed than longs right now. 3/4 midterms were followed by bearish price action one to two months later. Based on that historical sample, the odds are 75%. I’m all for the market going up, but I trade the statistics and data, not just the outcome I want. So i think we only get the derisking after, not before the midterms. Just some food for thought on the current price action. I’m still holding the 10x long, along with the longs I posted at 62.6K and 76.4K. All positions remain open at full size.