The recent precipitous drop in BTC price has significantly impacted long position holders. The scale of the long liquidation is unprecedented in the past year, suggesting a substantial long squeeze. However, it's crucial to not hastily infer a swift recovery post this massive liquidation. Historical data indicates a delay of a few months (from Aug to Oct 2023) before a price rebound. Therefore, a prudent investment approach, marked by less greed and more conservatism, is advisable for the current market scenario. - SignalQuant