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$BTC ripped to almost $78K on CLARITY Act hype then gave it right back, sitting near $76K now. Wasn't news that did it, it was leverage. Open interest dropped ~$2B over the weekend as thin liquidity turned crowded longs into forced sells. $XRP, $ADA, $AVAX got hit worse than $BTC. $STETH fell harder than spot $ETH too. Stables held peg fine though, so liquidity's not the issue. Healthy flush or something bigger brewing? 👇