Leverage adding Fuel to the Fire

Leverage-adding-Fuel-to-the-Fire

I'm assuming most of you are well aware of the Luna/UST situation so I won't go through a full recap.

Looking at Exchange Inflow Spent Output Value Bands, we witnessed one of the largest inflows in BTC's history (picture 1) on May 9th. Large exchange inflows can lead to sell pressure if the BTC was sent to the exchange with the intent to sell.

Whales (picture 2) sent the majority of the coins to exchanges during the May 9th inflow. This metric is clearly affected by LFG but still important to monitor. 

With all of the uncertainty in the market, speculators have continued to use leverage which has added fuel to the fire. On May 9th (picture 3), there was over $50 million in BTC long liquidations in 1 hour and over $91 million in a 2 hour period. With the CPI print of 8.3% YoY today, the drop in price was accelerated by $44 million in long liquidations in 1 hour.

Realized Price is now at $24,100. Do you think BTC will reach this or does it bounce before?