$BTC Tomorrow marks one year since it plunged from around 122,000 to 105,000 in just a few minutes; now it’s hovering near 82,000, about one-third below its level before that flash crash 📉
Binance Spot (Oct 9, 10:36): BTC $81,986, 24h -1.43%, 4-hour RSI just 20.2.
The two drops are different:
1️⃣ Last year: According to CoinDesk, Bitwise CIO Hougan estimated that around $20 billion in leveraged positions were liquidated.
2️⃣ This time: Higher oil prices and Treasury yields, along with ETF outflows, have triggered liquidations for around 190,000 people across the market in the past 24 hours, totaling nearly $1.2 billion. It looks more like a slow bleed.
Futures are worth watching more closely: BTC open interest is 7.64 billion U, down 4.05% in 24h, while the long/short account ratio has risen from 1.74 to 1.85. Positions are shrinking, but those still in the market are more bullish.
If it reclaims MA20 at 84,284, treat it as an oversold rebound for now. If it breaks below MA50 at 80,725 and the 7-day low of 80,394, the next reference point is the 30-day low of 74,968. If it gets above 84,284 and then falls back below 80,725, the rebound thesis is invalidated.
On the eve of the flash-crash anniversary, is leverage still being flushed out, or is the slow decline nearing its end?
Sources: CoinDesk, NetEase
$BTC #比特币 #FlashCrashAnniversary
#BinanceSquare
⚠️ The above is a compilation of information and personal opinion, and does not constitute investment advice. DYOR.
Binance Spot (Oct 9, 10:36): BTC $81,986, 24h -1.43%, 4-hour RSI just 20.2.
The two drops are different:
1️⃣ Last year: According to CoinDesk, Bitwise CIO Hougan estimated that around $20 billion in leveraged positions were liquidated.
2️⃣ This time: Higher oil prices and Treasury yields, along with ETF outflows, have triggered liquidations for around 190,000 people across the market in the past 24 hours, totaling nearly $1.2 billion. It looks more like a slow bleed.
Futures are worth watching more closely: BTC open interest is 7.64 billion U, down 4.05% in 24h, while the long/short account ratio has risen from 1.74 to 1.85. Positions are shrinking, but those still in the market are more bullish.
If it reclaims MA20 at 84,284, treat it as an oversold rebound for now. If it breaks below MA50 at 80,725 and the 7-day low of 80,394, the next reference point is the 30-day low of 74,968. If it gets above 84,284 and then falls back below 80,725, the rebound thesis is invalidated.
On the eve of the flash-crash anniversary, is leverage still being flushed out, or is the slow decline nearing its end?
Sources: CoinDesk, NetEase
$BTC #比特币 #FlashCrashAnniversary
#BinanceSquare
⚠️ The above is a compilation of information and personal opinion, and does not constitute investment advice. DYOR.