Just been scrolling through the charts and noticed something interesting about what happened with the market crash last week. So basically, crypto took a hard hit when Bitcoin dipped below $75K - that's when things really started unraveling. The liquidations were brutal, man. Over 237 million in BTC longs got wiped out in a single day, and when you zoom out to the week it was like 2.16 billion total. That's why the whole market followed Bitcoin down the drain.

What caught my attention is that this wasn't some random news event. It was pure leverage unwinding. Open interest in perpetual futures dropped 4.4% in just one day, and over the past month we're talking about a 34% decline in total derivatives exposure. When you have that much deleveraging happening, altcoins get crushed right alongside Bitcoin because traders are basically cutting risk everywhere at once. The whole thing fed on itself - forced selling turned into more liquidations, which triggered more selling.

Good news though, the market seems to be stabilizing now. Bitcoin's bounced back to around 71K with gains today, and most alts are showing green across the board. The key was whether we could hold that 75K support level, and looks like we did eventually. So yeah, that crash was rough but it was really just the market flushing out overleveraged positions that had been building up for weeks. Pretty textbook deleveraging cycle if you ask me.