Bitcoin thoughts The sentiment index is in the buy zone, so let's check out the individual components at some levels to trade. We had the biggest liquidation event in history, which is obviously great for entering not crowded longs. However, the market often goes into cockroach mode, as we've seen in the past when volume tends to decrease after these massive moves. Similar to the prior sell-off, we are starting to see spot bids under the price, which often also signals a bottom accumulation. We had a spike in vol, and front contracts went into backwardation with negative skew, but not at the levels we saw in April yet.(adam)