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$BTC PANIC: BITCOIN TOUCHED $62,000 IN THE EARLY HOURS OF SUNDAY
For me, the harshest part of tonight isn’t the red number, but who’s selling: according to analyst James Check, it’s the people who didn’t buy in the high $60,000s last summer, jumped in with FOMO at $80,000 in September, and are now selling at exactly the price they wish they’d taken advantage of three months ago.
Look at the detail no one is noticing:
→ Bitcoin touched $62,006 on Binance in the early hours today, its lowest in 4 months and the lowest since July 13, then bounced back to ~$65,400 just hours later: a rebound of more than $3,400 in one morning.
→ Nearly $2 billion liquidated in 24 hours, 86.7% of them long positions, with 318,000 traders liquidated; the largest individual liquidation was a $16.17 million ETH long on Binance.
→ The Fear and Greed Index hit 10, indicating extreme fear, and Bitcoin ETFs have seen $1.91 billion in outflows over 7 consecutive sessions, while the Fed had already warned on Friday that a correction in risk assets was the second most-cited risk.
Do you think Bitcoin will hold $60,000, or will it test the yearly low of $57,742? 👇
$BTC $ETH $SOL #Bitcoin #Capitulacion #ExtremeFear