Part 7/12:
On the technical front, leverage longs—positions betting on higher prices—are getting "wrecked", with many basically wiped out, especially below the $60,000 level. Conversely, shorts—bets on price declines—also face liquidation, revealing a mixed but cautious market sentiment. Despite the turbulence, these conditions are viewed as a buying opportunity by seasoned traders, with some scooping up Bitcoin at prices approaching the short-term holder cost basis (~$59,800).