Bitcoin lost another level, and the liquidation tape did the talking.
Watcher.Guru reports more than $1B liquidated in about 10 minutes, with BTC under $74,000, ETH under $2,125, XRP under $1.10, and SOL under $90. I couldn't independently confirm the 10-minute window yet.
On Nov 6, Bitcoin touched $74,780, its weakest intraday price since Aug 21, with $1.05 billion liquidated over 24 hours and 88.2% of it from longs. So $75,000 had already been tested, and a break below is the next step in the same story.
The pressure has been building. Hedge funds and banks cut 68,000 BTC of spot ETF exposure as the carry trade faded. Wintermute's OTC desk had flagged $73,000 and $68,000 as potential downside targets, so the market already knew where the next levels sat.
That's the mechanism. Round numbers attract stop orders and leveraged longs. When price reaches them, forced selling accelerates the move. A drop this fast usually says more about positioning than about new information.
What it could mean: leverage is still being cleared. Fast flushes can end quickly once forced selling runs out, but they can also repeat while longs keep rebuilding.
The risk is that $73K gives way and $68K becomes the focus, with altcoins like SOL and XRP falling harder. The supportive case is a funding reset that leaves a cleaner base.
Levels don't break prices. Leverage breaks them.
$BTC #BTC Price Analysis# #Bitcoin Price Prediction: What is Bitcoins next move?# $SOL
Watcher.Guru reports more than $1B liquidated in about 10 minutes, with BTC under $74,000, ETH under $2,125, XRP under $1.10, and SOL under $90. I couldn't independently confirm the 10-minute window yet.
On Nov 6, Bitcoin touched $74,780, its weakest intraday price since Aug 21, with $1.05 billion liquidated over 24 hours and 88.2% of it from longs. So $75,000 had already been tested, and a break below is the next step in the same story.
The pressure has been building. Hedge funds and banks cut 68,000 BTC of spot ETF exposure as the carry trade faded. Wintermute's OTC desk had flagged $73,000 and $68,000 as potential downside targets, so the market already knew where the next levels sat.
That's the mechanism. Round numbers attract stop orders and leveraged longs. When price reaches them, forced selling accelerates the move. A drop this fast usually says more about positioning than about new information.
What it could mean: leverage is still being cleared. Fast flushes can end quickly once forced selling runs out, but they can also repeat while longs keep rebuilding.
The risk is that $73K gives way and $68K becomes the focus, with altcoins like SOL and XRP falling harder. The supportive case is a funding reset that leaves a cleaner base.
Levels don't break prices. Leverage breaks them.
$BTC #BTC Price Analysis# #Bitcoin Price Prediction: What is Bitcoins next move?# $SOL
