$732M in leveraged positions got wiped out in the last 24 hours, and longs took almost all of it — $578M, 79% of the total. $ETH led the damage with around $240M liquidated, $BTC close behind at $169M.
The Fear & Greed Index slipped to 29, still Fear, down from 32 yesterday and 34 last week. The hot CPI print yesterday is still hanging over the market — $BTC is sitting around $73,700 and $ETH near $2,058, and traders are not rushing back in yet.
My take: this is the second day in a row longs got flushed, and fear keeps deepening instead of bouncing. That kind of washout is usually where bottoms start forming, but with a December Fed hike now looking more likely, I'm not calling the bottom yet.
Do you think this fear is 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 slipped to 29, still Fear, down from 32 yesterday and 34 last week. The hot CPI print yesterday is still hanging over the market — $BTC is sitting around $73,700 and $ETH near $2,058, and traders are not rushing back in yet.
My take: this is the second day in a row longs got flushed, and fear keeps deepening instead of bouncing. That kind of washout is usually where bottoms start forming, but with a December Fed hike now looking more likely, I'm not calling the bottom yet.
Do you think this fear is the bottom, or is there more downside first?
No buy/sell call, just the market. Not financial advice.
#Bitcoin #Ethereum #Crypto
