BTC Longs just got obliterated. The selloff triggered a large wave of long liquidations and flushed a significant amount of leverage out of the market. What’s interesting is that open interest is already building back up while futures CVD continues to move lower. This suggests that fresh shorts are now entering aggressively after the flush. If buyers manage to stabilize price from here, those late shorts could quickly become the next side of the market to get squeezed.