Bitcoin’s Drop Looks Like a Derivatives Cleanout, Not a Trend Reversal

On-chain and derivatives data from CryptoQuant suggest Bitcoin’s recent pullback is best understood as a mechanical reset of leverage, rather than the start of a broader bearish phase. Instead of signaling structural weakness, multiple indicators point to a market that became overheated and then rapidly cooled. source: https://www.ethnews.com/bitcoins-drop-looks-like-a-derivatives-cleanout-not-a-trend-reversal/