There are now almost $15bn in short liquidations...

And that is only up to $100k.

I am very confident that Bitcoin is now forming its higher low here, and getting ready to bounce heading into FOMC and throughout a lot of December.

The downside is being over done here, with another $1bn in liquidations in the last 24h.

Short term holder capitulation levels have reached the second most extreme point ever, only second to the $49k Yen carry trade bottom in 2024.

Even if you are in the camp that the cycle is over and we are retracing 75% into a prolonged bear, you will want to wait until the markets rally some to exit your positions.

I've never seen so much liquidity stacked in such a short period higher.

Ultimately, the FED are going to have to be accommodative at this FOMC as the banking system is running very low on reserves and beginning to crack here.

Powell will be dovish and signal support if/when neccessary.

They do not want a crisis heading into the end of the year.