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PPI DIDN’T BREAK THE BULL MARKET — IT’S CHANGING WHO GETS TO STAY Hot PPI wiped out leveraged longs, but the real signal isn’t the $363M in liquidations.It’s that $BTC is still holding around $76K–$77K instead of collapsing deeper. The market is shifting from “buying on Fed-easing hopes” to “buying only when price proves strength.” If $76K holds, this flush could be a leverage reset—not the end of the uptrend.But if it breaks,the story changes completely. Is BTC losing leverage—or losing buyers?