Bitcoin dropping to $72.6K after nearly $1B in long liquidations shows how overheated the market had become. Once key support levels broke, leverage got completely flushed out and panic selling accelerated fast. What matters now is the $70K zone. If BTC holds there, this could end up being a brutal but healthy reset before another recovery attempt. But if $70K breaks cleanly, the market probably isn't done bleeding yet. The ETF outflows are the bigger concern for me. Retail panic comes and goes, but when institutional money keeps leaving for multiple days straight, it usually pressures sentiment much harder. Personally, I still think this is correction territory rather than a full cycle top. But I wouldn't try catching every dip aggressively until the market shows stronger signs of stabilization.