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The $40k on-chain price wall held fast against much pressure from the brief dip into the $39k territory. Longs command 65% of total liquidation triggered by the recent sell-off, with a dominance value higher than the previous one in early September, suggesting that many leveraged traders were trying to catch the falling knife. Near-dated volatility skew’s “crooked smile” (a long tail for strikes lower than the market price) confirms downside fears and suggests that the market is leaning bearish, or at least in the short-term. Despite the lingering impact of the Monday sell-off, the price of BTC is currently stabilizing above the $40k critical support and appears to be on its way to retest the $43k resistance level.