In the past 24 hours, the market looks quite fierce. According to data, the total liquidation scale across the entire network has reached $370 million, with longs taking the heaviest hit—$135 million worth of BTC long positions were wiped out, and over 120,000 traders were directly forced out.

Currently, the market sentiment index is only 18, which has already entered a stage of oversold territory. Looking at historical trends, after each large-scale leverage wipeout like this, there is usually a 3% to 5% mean reversion rebound. Have you noticed? BTC at the $85,000 threshold has seen a resurgence in spot buy volume in the past half hour, which is an interesting signal. On ETH at $2800, it’s also clearly felt that the bears are stepping on the gas, while buy orders are trying to bottom out.