CryptoQuant analyst: This is the largest liquidation of long orders in the past year

CryptoQuant analyst SignalQuant wrote that the recent BTC price plunge has dealt a serious blow to long position holders. The scale of this long liquidation is the largest in the past year, and we estimate that this long squeeze is also quite significant. However, we cannot easily conclude that the market will rebound after experiencing a large-scale multi-order liquidation. Because between August and October 2023, prices experienced several months of correction before rebounding. Therefore, it recommends that investors maintain a "temporarily less greedy and more conservative" mentality when investing.