In the past 24 hours, nearly $1B of positions were liquidated. Primarily longs. Much more Open Interest was flushed out across the market. Get used to these kind of days where late longs get flushed out, bulls start questioning themselves as the market consolidates and regains fuel for a move later on. This is very normal behavior and without days like these along the way, you can't make for a sustainable rally over time. These days can be good to watch and potentially DCA but generally you get some more chop/sideways/bleed and the bottoms form relatively slowly this cycle.