The crowd got heavily liquidated on the bounce from a strong D1 resistance level(112 600). Over $100

The crowd got heavily liquidated on the bounce from a strong D1 resistance level(112 600). Over $100M in liquidations. Overall though, the trend is still bearish for now. The drop started last week after the hot PPI numbers and Bessent’s comments.Right now, the market is under pressure from negative sentiment, rate cuts aren’t expected to be as aggressive, and seasonally September is also a sell-off month for stocks, so people are locking in profits. Just yesterday, there were $500M outflows from BTC ETFs and another $500M from ETH ETFs.This bounce we’re seeing now looks like nothing more than a technical rebound. Fundamentally, things would only shift if we get some positive surprise on rates or something of that kind. Later today we’ll get the minutes from the last Fed meeting, back then the hot PPI print wasn’t out yet, so the market might spin them in a more positive light. That could give us some short-term upside, but in the bigger picture, continuation of the bear trend still looks more likely.