FTX collapse marked the bottom. So will the Binance hack. The best way to recoup losses is to send prices significantly higher, not lower. Do not think for one moment that Binance won’t do exactly that. They hold multiple billions in BTC and have the firepower to execute multibillion dollar longs that aren’t visible to retail. Not to mention, they probably made $1B in liquidations, slippage, and fees anyway. It might just take some time for the market to rebalance after the temporary damage. But after that, I think it’s crystal clear where we are headed on the HTF.