$300 million long position wiped out overnight.

The market is just reminding everyone of one thing: who’s the boss.
$BTC current price is 66,000, down from the 126,000 high by half, with sentiment shifting directly from greed to panic.
This isn’t a crash; it’s a standard deleveraging and liquidation.
Geopolitical tensions + oil prices breaking $100 + Federal Reserve hawkishness, the longs have just handed themselves over.
Next, only one level matters: $60,000
Hold that, and there’s a rebound; break below, and it’s bearish for weeks.
Whales aren’t panicking; they seem to be accumulating outside the market.
So the question is simple:
Will it first drop to 60,000 or bounce back to 70,000?
Don’t just watch the K-line; look at oil prices and the Fed. The answer has already been written.