$BTC just lost $80K for the first time since mid-September.
Binance spot printed a $79,557 low and sits near $79,750 (-2.2% 24h, 00:14 KST). $ETH is weaker at ~$2,315 (-3.6%).
What drove it:
• ~$645M liquidated across crypto in 24h, ~78% longs (CoinGlass)
• ~$233M of that in a single hour as $80K broke
• Spot BTC ETFs: -$636M Oct 22, another -$138M Oct 23
• Iran strike headlines + Brent near $117 keep inflation fears alive
My read: this was a leverage flush into a level everyone was watching. Open interest was still elevated going in, so the cleanup may not be finished.
Bull case: a fast reclaim of $80.5K–$81.8K (around the 50-day average) turns this into a stop sweep, with $84.9K (this week's high) as the next test.
Bear case: daily closes under $79.5K open room toward the ~$75K area, the 60-day low.
Risks: weekend liquidity is thin, and the Fed decision (Oct 28) plus PCE (Oct 29) land this week.
Are you buying this dip or waiting for a reclaim?
Source: https://www.crypto-news-flash.com/bitcoin-price-below-80k-altcoins-lower/
#WriteToEarn
Not financial advice. DYOR.
Binance spot printed a $79,557 low and sits near $79,750 (-2.2% 24h, 00:14 KST). $ETH is weaker at ~$2,315 (-3.6%).
What drove it:
• ~$645M liquidated across crypto in 24h, ~78% longs (CoinGlass)
• ~$233M of that in a single hour as $80K broke
• Spot BTC ETFs: -$636M Oct 22, another -$138M Oct 23
• Iran strike headlines + Brent near $117 keep inflation fears alive
My read: this was a leverage flush into a level everyone was watching. Open interest was still elevated going in, so the cleanup may not be finished.
Bull case: a fast reclaim of $80.5K–$81.8K (around the 50-day average) turns this into a stop sweep, with $84.9K (this week's high) as the next test.
Bear case: daily closes under $79.5K open room toward the ~$75K area, the 60-day low.
Risks: weekend liquidity is thin, and the Fed decision (Oct 28) plus PCE (Oct 29) land this week.
Are you buying this dip or waiting for a reclaim?
Source: https://www.crypto-news-flash.com/bitcoin-price-below-80k-altcoins-lower/
#WriteToEarn
Not financial advice. DYOR.