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$BTC order flow > My primary thesis remains unchanged. After hours of ranging, downside pressure finally entered the market. > With order books this thin, relatively little aggression is needed to move price. > The initial selling was amplified by long closing and liquidations: Delta and price moved lower while Open Interest declined, indicating that existing positions were being flushed rather than the move being driven purely by fresh short positioning. > Spot participated in the sell-off as well. Passive bids around 62.2k initially absorbed the pressure, while overall order book pressure remains slightly bid-heavy. > We’re now seeing a corrective bounce, but positive Delta is coming in on significantly lower volume (still thin books). Spot is involved, though not convincingly enough for me yet. Unless participation strengthens, I still view this as a weak reaction. If intentional selling initiates and the passive bids fail, price could move quickly through the liquidity clusters toward 61.4k, which remains my next long POI. -> if bids absorb or buyers show up with intend, i will reassess and wait for my next short trigger$BTC #30YYieldAt19YHigh