$BTC
{spot}(BTCUSDT)
🚨 What is happening in crypto? ⬇️
Since October 10th, crypto markets are now down -50%, erasing $2.2 TRILLION worth of market cap 👀⬇️
Bitcoin has officially erased ALL of its post-election rally, now down -10% since Trump's election ⬇️
Bitcoin has officially erased its post-election rally
Yet, over the last 60 days, the fundamental picture for crypto is actually vastly unchanged ⬇️
This is why many investors are confused
Why is crypto crashing if the fundamental picture is unchanged? 🤔
The answer to this question requires going back to October 10th ✅️
$ZEC
{spot}(ZECUSDT)
The most recent TOP in crypto came on October 6th, just 4 days before the -$19.5 billion record liquidation ↩️
Something structural appears to have shifted on October 10th ⬇️
And, markets never truly recovered ↔️
🚸 Warning 🚸 I do not provide financial advice 🔞The intent of this content is for you to be aware of market conditions before starting to invest 👌Thank you for reading 👌
$TAO
{spot}(TAOUSDT)
#BitcoinDropMarketImpact #MarketCorrection
$BTC
{spot}(BTCUSDT)
🚨 between Nov, 15th and Jan, 15th, Bitcoin was entirely rangebound 🚨
However, we would see brief periods of liquidations with "gaps" in both directions 🧐
This was yet another sign of the structural collapse in crypto
Finally, the range broke to the downside on Jan. 16th ⌛️
As price action deteriorated, so did sentiment ↔️
If previous crypto cycles have taught us anything, it's the sentiment is ALL that matters
As seen below, sentiment has traded in a near straight-line lower since October 10th 🚨
Even relief rallies failed to shift sentiment
The result is a massive virtuous cycle, shifting from liquidations to sentiment deterioration, and back 🧐
$ETH
{spot}(ETHUSDT)
Since January 24th, we have seen $10 billion worth of levered positions liquidated ↔️
That's ~55% of the record amount seen on October 10th ↔️
It's a structural decline ⬇️
🚸 Warning 🚸 I do not provide financial advice 🔞The intent of this content is for you to be aware of market conditions before starting to invest 👌Thank you for reading 👌
$BNB
{spot}(BNBUSDT)
#BitcoinDropMarketImpact #MarketCorrection
$BTC
{spot}(BTCUSDT)
🚨 Today's decline was particularly noteworthy as Bitcoin fell over -$9,000 and selling pressure was constant 🚨
At times, Bitcoin would fall $2,000+ in a matter of minutes ↔️
It seems that a large player, perhaps an institutional investor, sold/liquidated during today's session ⬇️
So, the question becomes, when will crypto bottom? 🧐
$ETH
{spot}(ETHUSDT)
The answer to this question is when structural liquidity is restored
This will be a combination of both capitulation in price and leverage, as well as maximum bearish sentiment
We seem to be somewhat near that point
$LTC
{spot}(LTCUSDT)
🚸 Warning 🚸 I do not provide financial advice 🔞The intent of this content is for you to be aware of market conditions before starting to invest 👌Thank you for reading 👌
#BitcoinDropMarketImpact #MarketCorrection