🚨 $1.7B in long positions were liquidated in just 48 hours. But we see this as a healthy leverage flush. Highly leveraged positions are especially vulnerable in the current macro environment, with: > Treasury yields elevated > further Fed rate hikes still a risk > Middle East tensions adding uncertainty Why do we see this correction as healthy? 🟢 The selloff flushed out many of the 50x–100x leveraged positions that had built up. 🟢 The deleveraging went well beyond BTC and ETH: $540M in altcoin positions were liquidated across Oct. 7–8 alone. 🟢 Meanwhile, BTC’s daily RSI has dropped from 86 in late Aug to 44 today. BTC is back near $80K, but the extreme overbought conditions have been cleared. A healthier market structure doesn’t mean the selloff is over. With $81K broken, here are the next BTC support zones to watch: 🟠 $79K–$80K | Bull-flag breakout zone The first key support area, also showing a notable concentration of liquidation liquidity. 🟠 $74K–$75K | Higher-low support Holding this area would keep BTC’s broader higher-low structure intact. 🟠 $71K–$72K | 200-day MA The 200-day moving average currently sits near $71.8K, adding another major long-term technical support. #Bitcoin #Altcoins #Liquidations #Leverage