🚨 It looks like a normal dip. It's one of the most aggressive crypto sell-offs in years 😳
Bitcoin crashed to about $62,000 this weekend, a three-month low and roughly 15% down on the week. The Fear & Greed Index hit 10, extreme fear 📉
$XRP fell to 89 cents, its lowest since November 2024, down 36% this quarter.
Why it's happening 🧠
1️⃣ Money is leaving: US Bitcoin ETFs lost $1.91B over seven straight sessions
2️⃣ Stablecoins are shrinking: supply fell $17B in a month, the steepest drop since 2022, so there's less buying power
3️⃣ Rates: bets on a Fed hike are rising, which hurts risk assets
4️⃣ Nvidia shock: AI stocks wobbled and crypto followed
The technical damage 📊
$BTC broke below its 200-week moving average near $68K. Reclaiming it would be the first sign the pressure is easing. Below, $60K is the round number everyone is watching.
The optimistic view: some analysts see capitulation, which can come near a bottom. The cautious view: nobody can call the exact low, and one analyst has already flagged a fourth capitulation wave ⚖️
Bitcoin didn't need bad crypto news to fall this week. It just needed everyone to want cash at once 😂
Bitcoin crashed to about $62,000 this weekend, a three-month low and roughly 15% down on the week. The Fear & Greed Index hit 10, extreme fear 📉
$XRP fell to 89 cents, its lowest since November 2024, down 36% this quarter.
Why it's happening 🧠
1️⃣ Money is leaving: US Bitcoin ETFs lost $1.91B over seven straight sessions
2️⃣ Stablecoins are shrinking: supply fell $17B in a month, the steepest drop since 2022, so there's less buying power
3️⃣ Rates: bets on a Fed hike are rising, which hurts risk assets
4️⃣ Nvidia shock: AI stocks wobbled and crypto followed
The technical damage 📊
$BTC broke below its 200-week moving average near $68K. Reclaiming it would be the first sign the pressure is easing. Below, $60K is the round number everyone is watching.
The optimistic view: some analysts see capitulation, which can come near a bottom. The cautious view: nobody can call the exact low, and one analyst has already flagged a fourth capitulation wave ⚖️
Bitcoin didn't need bad crypto news to fall this week. It just needed everyone to want cash at once 😂
