Look.
We're now well into a 15-minute chart correction and the market is as calm as a sleeping baby. Not a hint of the panic of the last 48 hours.
That shows you. It was all market making by ultra-aggressive shorters. They had their covering level targeted the whole way down and once reached, left the building with their "winnings". That's why we got these pummelling dumps on the turnaround from the bounces on the way down.
I wouldn't be surprised if there's still a significant part of the market that's short and yet to cover.
I am 100% in agreement.
Bfxdata doesn't show long or short since 18th Jan. Very strange!
https://www.bfxdata.com/positions/btcusd