$1.64B in leveraged positions got wiped out in the last 24 hours, and longs took almost all of it again — $1.45B, 88% of the total, against just $187M of shorts. $BTC led the damage with around $916M liquidated, 95% of it longs, and $ETH added about $297M as it slipped under $2,000.
The Fear & Greed Index just dropped to 20, Extreme Fear, down from 28 yesterday and 62 a month ago. $BTC is around $69,300 after dipping below $69,000 earlier today, and $ETH is near $1,960.
My take: this is the biggest flush in weeks, and fear this deep is usually where bottoms start forming. But the selling has not slowed down yet, so I am not calling the bottom until $BTC holds above $69,000.
Is this fear the bottom, or is there more downside first?
No buy/sell call, just the market. Not financial advice.
#Bitcoin #Ethereum #Crypto
The Fear & Greed Index just dropped to 20, Extreme Fear, down from 28 yesterday and 62 a month ago. $BTC is around $69,300 after dipping below $69,000 earlier today, and $ETH is near $1,960.
My take: this is the biggest flush in weeks, and fear this deep is usually where bottoms start forming. But the selling has not slowed down yet, so I am not calling the bottom until $BTC holds above $69,000.
Is this fear the bottom, or is there more downside first?
No buy/sell call, just the market. Not financial advice.
#Bitcoin #Ethereum #Crypto
