What I've mentioned several times in my recent posts has occurred. We are seeing a liquidation of both long and short positions, targeting those who overleveraged.
Unfortunately, such liquidations are more often the rule rather than the exception during consolidation periods. Key support and resistance levels were breached, after which the price returned to a narrow range.
For me, nothing has fundamentally changed. I continue to await a correction in the range of 44 - 49k, where I will start to build a strategic long position with a horizon of several months or more.