Bitcoin plunged back to $75,893 overnight, down 5.7% in 24 hours—as the Nasdaq entered correction territory and $2.5 trillion evaporated from Wall Street in a single day.
Last night, BTC slid from a high of $80,809 to $75,309. ETH fell 7.9% to $2,233, while SOL, DOGE, and the rest of the market dropped more than 6%.
The trigger was a tech-stock selloff in U.S. equities: the Nasdaq fell more than 10% from its October 6 record, officially entering correction territory. The VIX surged more than 50% in a day, reaching 26.
Initial jobless claims came in at 189,000, a 57-year low—but the data was so strong that it became bad news, reviving fears that rate cuts could be pushed back.
Source: ChosunBiz reported on November 6 that Bitcoin fell below $76,000 and the Fear and Greed Index stood at 31; a Medium analysis published the same day said the Nasdaq had entered correction territory and the VIX had risen to 26.
The timing makes it even more painful: at 08:00 UTC today, 33,135 BTC options worth about $2.65 billion expire on Deribit, with a max pain price of $79,000. The U.S. nonfarm payrolls report is also due tonight.
On November 4, U.S. spot BTC ETFs still saw $74.6 million in net inflows. Institutions had just bought the dip, and retail investors were already running scared.
I don't think this is a problem specific to Bitcoin; it's panic over the AI bubble in U.S. stocks spilling over. Wednesday's post-midterm-election rally was completely wiped out in a day, showing that the market still hasn't found direction and is just looking for a scapegoat.
But $75,600 was the low on election night. If it doesn't hold, the next step down is $73,000. If Bitcoin holds and reclaims $77,700, then Wednesday's green candle won't have been for nothing.
The Fear and Greed Index has already fallen to 31, and the whole feed is full of people shouting, “The bear market is here.” When the shouting gets loudest, a near-term bottom is often not far away—though, of course, it could also be further off.
Which side are you on: will $75,600 hold and spark a rebound, or will it break first before Bitcoin tests $73,000?
$BTC $ETH $SOL
#比特币暴跌 #NasdaqCorrection
Last night, BTC slid from a high of $80,809 to $75,309. ETH fell 7.9% to $2,233, while SOL, DOGE, and the rest of the market dropped more than 6%.
The trigger was a tech-stock selloff in U.S. equities: the Nasdaq fell more than 10% from its October 6 record, officially entering correction territory. The VIX surged more than 50% in a day, reaching 26.
Initial jobless claims came in at 189,000, a 57-year low—but the data was so strong that it became bad news, reviving fears that rate cuts could be pushed back.
Source: ChosunBiz reported on November 6 that Bitcoin fell below $76,000 and the Fear and Greed Index stood at 31; a Medium analysis published the same day said the Nasdaq had entered correction territory and the VIX had risen to 26.
The timing makes it even more painful: at 08:00 UTC today, 33,135 BTC options worth about $2.65 billion expire on Deribit, with a max pain price of $79,000. The U.S. nonfarm payrolls report is also due tonight.
On November 4, U.S. spot BTC ETFs still saw $74.6 million in net inflows. Institutions had just bought the dip, and retail investors were already running scared.
I don't think this is a problem specific to Bitcoin; it's panic over the AI bubble in U.S. stocks spilling over. Wednesday's post-midterm-election rally was completely wiped out in a day, showing that the market still hasn't found direction and is just looking for a scapegoat.
But $75,600 was the low on election night. If it doesn't hold, the next step down is $73,000. If Bitcoin holds and reclaims $77,700, then Wednesday's green candle won't have been for nothing.
The Fear and Greed Index has already fallen to 31, and the whole feed is full of people shouting, “The bear market is here.” When the shouting gets loudest, a near-term bottom is often not far away—though, of course, it could also be further off.
Which side are you on: will $75,600 hold and spark a rebound, or will it break first before Bitcoin tests $73,000?
$BTC $ETH $SOL
#比特币暴跌 #NasdaqCorrection
