$BTC ripping back above $85K is interesting, but the price alone is not what caught my attention.
The bigger story is what happened underneath the move.
More than $750M in crypto positions were liquidated in 24 hours, with roughly $648M coming from shorts.
So part of this rally is not new conviction entering the market.
It is the market forcing people who were positioned the wrong way to exit.
And honestly, that makes the next few days more interesting to me.
BTC has recovered incredibly fast from the ~$75K area, but I want to see what happens when the forced buying cools down.
Can it hold the $83Kâ$84K area and build from there?
Because if $BTC holds those levels after the squeeze, that tells me something very different from a quick liquidation-driven pump.
For now, I am watching the reaction, not chasing the candle. đ
The bigger story is what happened underneath the move.
More than $750M in crypto positions were liquidated in 24 hours, with roughly $648M coming from shorts.
So part of this rally is not new conviction entering the market.
It is the market forcing people who were positioned the wrong way to exit.
And honestly, that makes the next few days more interesting to me.
BTC has recovered incredibly fast from the ~$75K area, but I want to see what happens when the forced buying cools down.
Can it hold the $83Kâ$84K area and build from there?
Because if $BTC holds those levels after the squeeze, that tells me something very different from a quick liquidation-driven pump.
For now, I am watching the reaction, not chasing the candle. đ
