I don’t know how this is a contrarian take but here it is: - The top is not in. We had a day with a huge amount of liquidations. Overleveraged apes watched ungodly amounts of uPNL & PNL drop before their eyes. Bags were transferred from the impatient to the patient - business as usual. It takes some time for liquidity to come back into the books. To panic after the first massive wipeout is pathetic. This is nothing new. Higher.