BTC breaks through $85,000, the first time since January, up 5.59% in 24 hours.
$648 million of short positions are forced to liquidate, and along with other markets, total liquidations for the day exceed $750 million.
Then it reminds me of what I said earlier: this rebound isn’t smart money buying—it’s shorts getting blown up.
This still holds true—$648 million in short liquidation, and mechanical buy orders push the price higher; that logic hasn’t changed.
But there’s one thing that makes me feel this time isn’t entirely the same:
Oil prices have fallen for four straight days this week, and diplomatic contacts between Washington and Tehran are ongoing. Inflation expectations are easing, and pressure for rate hikes is decreasing—this is a real macro improvement, not just shorts getting blown up.
From the September 15 low of $75,000 to today’s $85,000, it rose 13% in ten days.
Glassnode says the cost basis for ETF holders is about $85,000—meaning today is right around the breakeven level for ETF buyers. Whether it can hold is the most important thing today.
Hold above $85,000 at the close: next target $86,500, then we’ll discuss $90,000;
If it can’t hold: $80,000 will retake the test.
Do you think $85,000 is a real breakout this time, or just another false breakout?
$BTC
#比特币突破8.5万美元
$648 million of short positions are forced to liquidate, and along with other markets, total liquidations for the day exceed $750 million.
Then it reminds me of what I said earlier: this rebound isn’t smart money buying—it’s shorts getting blown up.
This still holds true—$648 million in short liquidation, and mechanical buy orders push the price higher; that logic hasn’t changed.
But there’s one thing that makes me feel this time isn’t entirely the same:
Oil prices have fallen for four straight days this week, and diplomatic contacts between Washington and Tehran are ongoing. Inflation expectations are easing, and pressure for rate hikes is decreasing—this is a real macro improvement, not just shorts getting blown up.
From the September 15 low of $75,000 to today’s $85,000, it rose 13% in ten days.
Glassnode says the cost basis for ETF holders is about $85,000—meaning today is right around the breakeven level for ETF buyers. Whether it can hold is the most important thing today.
Hold above $85,000 at the close: next target $86,500, then we’ll discuss $90,000;
If it can’t hold: $80,000 will retake the test.
Do you think $85,000 is a real breakout this time, or just another false breakout?
$BTC
#比特币突破8.5万美元
