🔴 Bitcoin Crashes Below $69,000
Bitcoin has fallen to $68,400 - down 7% in 24 hours. This is the lowest level since August.
Why Did It Crash?
1. Nvidia CEO Resigned: Jensen Huang resigned after an investigation into a suspected Chinese spy. Nvidia stock fell -13%, and it dragged the whole tech and crypto market down.
2. Fed Rate Hike Fear: US inflation is hot, so the Fed may increase interest rates in December.
3. ETF Outflows: $1.44 Billion has left Bitcoin ETFs in just 5 days.
Damage:
• $1.47 Billion Liquidated in 24h
• 175,000 Traders liquidated
• Fear & Greed Index: 20 - EXTREME FEAR
🟢 But Bullish News Too:
Russia: Central Bank said stock exchanges can start Bitcoin trading from 22 November.
Israel: Israel Discount Bank becomes the first bank to offer Bitcoin Trading.
What Next?
$68K is the key support. If it holds, bounce is coming. If it breaks, next target is $64K.
Bitcoin has fallen to $68,400 - down 7% in 24 hours. This is the lowest level since August.
Why Did It Crash?
1. Nvidia CEO Resigned: Jensen Huang resigned after an investigation into a suspected Chinese spy. Nvidia stock fell -13%, and it dragged the whole tech and crypto market down.
2. Fed Rate Hike Fear: US inflation is hot, so the Fed may increase interest rates in December.
3. ETF Outflows: $1.44 Billion has left Bitcoin ETFs in just 5 days.
Damage:
• $1.47 Billion Liquidated in 24h
• 175,000 Traders liquidated
• Fear & Greed Index: 20 - EXTREME FEAR
🟢 But Bullish News Too:
Russia: Central Bank said stock exchanges can start Bitcoin trading from 22 November.
Israel: Israel Discount Bank becomes the first bank to offer Bitcoin Trading.
What Next?
$68K is the key support. If it holds, bounce is coming. If it breaks, next target is $64K.