📉 Traders are massively closing longs: bears are dictating terms in the futures market 🐻

In the last 24 hours, a powerful wave of selling has been observed in the futures market, triggered by active closing of longs. 📊
After the rapid price drop to a local minimum of $112,000, market participants demonstrated an aggressive tendency to sell. This was vividly reflected in the Net Taker Volume, which reached an extreme value of -$175 million over 6 hours. 🔻 Such a value indicates a clear control of the "bears" over the market dynamics, where sell market orders prevail.
🧊 As the market situation partially stabilizes, the pressure has somewhat eased: the net trading volume decreased to –$78 million, which is equivalent to a 2.2-fold reduction in the negative imbalance. Despite this, the balance still remains in the negative zone, meaning that the advantage remains on the side of sellers. ⚖️