Yesterdayâs dumpâTuesday, February 25âfelt like a gut punch across the board. Some posts were screaming about
#panicselling , with some pinning it on a broader market wobble tied to economic jitters. Think rising U.S. recession fears or a surprise central bank moveâlike
#Japan âs rate hikes last year that rattled carry trades. Whatever sparked it, the sell-off was sharp and fast, wiping out leveraged positions and leaving the market oversold. RSI on Bitcoinâs daily chart, for instance, likely dipped below 30, which historically screams âbuyers might step in soon.â
Todayâs setup has some green flags. After a steep drop like that, you often get a relief rally as bargain hunters and short-term
#traders jump in. X is already buzzing with folks calling the bottomâsome guy posted at 3 AM that $95K was Bitcoinâs floor and itâs âup onlyâ from here. Plus, if yesterdayâs
#liquidations cleared out the weak hands, thereâs room for a snapback. The last time we saw a one-day 10%+ dump, back in early February, the market clawed back 3-5% the next day.
#Volume spikes after a crash tend to favor buyers too, and with it being midweek, trading activity might pick up.
But itâs not all sunshine. If the dump was tied to macro stuffâlike a bad U.S. jobs report or Fed chatter about skipping rate cutsâthe hangover could linger. Cryptoâs been twitchy about traditional markets lately, and stocks are wobbling too. If Wall Street stays red, we might see more downside before any real bounce. And donât sleep on the whalesâbig moves in either direction could hinge on what they do with their stacks today.
Gut call? Iâd lean toward a modest bounceâmaybe 2-4% on
$BTC Bitcoin and
$ETH Ethereumâunless fresh bad news hits. The marketâs got that coiled-spring feel, but itâs fragile. Whatâs your readâthink weâre in for a breather or more pain?