Are we watching a short squeeze play out right now? The signals seem worth monitoring—when liquidation cascades hit the derivatives market, spot prices can move hard and fast. The key question is whether retail shorts and leveraged positions are getting caught in a squeeze, or if this is just normal volatility grinding through support levels. Either way, it's a textbook setup to watch the order book closely and see if volume really picks up on any bounce. Market structure matters here—if major resistance breaks cleanly, shorts could get properly liquidated, which would fuel the move even more. Worth keeping an eye on the open interest data to see if positions are actually getting unwound or if it's just noise.