Encryption | Morning News | September 24
Title: BTC is back at 84,000—two words, “panic,” can’t even be said
To be honest, at this level I’m not really brave enough to add more.
$BTC is currently quoted at 84,348; over the past 24 hours it’s down 2%. A wick dipped to 83,450 and then got pulled back. $ETH 2685 is also down 2.4%; SOL is green too—last night’s sell-off was pretty clean, but it didn’t come with volume and didn’t break down. It feels like institutions are quietly accumulating.
Market sentiment is set to neutral and slightly cautious—not panic. It’s more like everyone doesn’t really want to move. My own account regained a bit of “blood” yesterday, but today it started grinding in a range again. This kind of market is the hardest to trade: you can’t hold shorts, and you also don’t dare chase longs.
As for catalysts: The SUI ETF officially launched, but the price not only didn’t rise—it fell 6%. That once again confirms the “good news is already priced in” script. Institutions buy the expectation and sell the fact—same old routine.
Today I’m watching two directions:
1) The support at 83,500. If it breaks, I’ll look toward 81,000; if it holds, then we can range-trade up to 87,000 before considering cutting positions.
2) The altcoin recovery—those on the list that were severely oversold earlier and have been grinding at the bottom. If capital flows back in, I’ll try it with a small position, but I won’t go heavy.
What do you think about this level—should we be greedy, or should we just pretend we’re dead? Chat in the comments. If you feel the same, hit the “grind” icon.
— Shen Nong Notes
Title: BTC is back at 84,000—two words, “panic,” can’t even be said
To be honest, at this level I’m not really brave enough to add more.
$BTC is currently quoted at 84,348; over the past 24 hours it’s down 2%. A wick dipped to 83,450 and then got pulled back. $ETH 2685 is also down 2.4%; SOL is green too—last night’s sell-off was pretty clean, but it didn’t come with volume and didn’t break down. It feels like institutions are quietly accumulating.
Market sentiment is set to neutral and slightly cautious—not panic. It’s more like everyone doesn’t really want to move. My own account regained a bit of “blood” yesterday, but today it started grinding in a range again. This kind of market is the hardest to trade: you can’t hold shorts, and you also don’t dare chase longs.
As for catalysts: The SUI ETF officially launched, but the price not only didn’t rise—it fell 6%. That once again confirms the “good news is already priced in” script. Institutions buy the expectation and sell the fact—same old routine.
Today I’m watching two directions:
1) The support at 83,500. If it breaks, I’ll look toward 81,000; if it holds, then we can range-trade up to 87,000 before considering cutting positions.
2) The altcoin recovery—those on the list that were severely oversold earlier and have been grinding at the bottom. If capital flows back in, I’ll try it with a small position, but I won’t go heavy.
What do you think about this level—should we be greedy, or should we just pretend we’re dead? Chat in the comments. If you feel the same, hit the “grind” icon.
— Shen Nong Notes