Now let's see if this quickly retraces and if bears start piling on shorts. Either (or both) will give us some indication of where sentiment is at, and whether we can expect more carnage.
Yes. This is not now a point to put on new positions, possibly close out if you shorted from ~9900, which was the low risk trade.
The range from 6500 to 10000 has reinforced itself again, and the bearish nature of 10k rejection should make potential longs cautious.
Looking at fundamentals, the big shakeout of miners after halving is going to hit hashrate (as always) and it remains to be seen how long liquidations overhang the market.
Always the caveat that BTC is different from other markets, but its price sure is behaving much more like an established commodity nowadays.