The support level of $84,000 was just breached, pulling the price back from $$BTC to $83,147.6 at the time of writing — did those holding long positions manage to pull their stop losses in time?
This sell-off wasn't simply technical. The massive selling pressure was triggered when the yield on 10-year US Treasury bonds reached a 19-year high, simultaneously with the probability of the Fed raising interest rates further surging to 75%. When risk-free assets reach their most attractive returns in nearly two decades, the large outflow of capital from crypto is a logical reaction. The US Treasury Department's plan to buy back $6 billion in bonds is merely a temporary technical intervention — too small a scale to reverse defensive sentiment.
Hundreds of millions of dollars in long positions were liquidated in a flash, and buying support from below remains cautious. I'm not trying to predict the bottom while the candle is selling — losing money at this point isn't worth it. I'm staying out, waiting for clearer signals of stability before considering an entry.
$BTC Is this a chance to accumulate or will there be a deeper sweep? See your perspective below 👇
#BTC #Bitcoin #Crypto #Futures
This sell-off wasn't simply technical. The massive selling pressure was triggered when the yield on 10-year US Treasury bonds reached a 19-year high, simultaneously with the probability of the Fed raising interest rates further surging to 75%. When risk-free assets reach their most attractive returns in nearly two decades, the large outflow of capital from crypto is a logical reaction. The US Treasury Department's plan to buy back $6 billion in bonds is merely a temporary technical intervention — too small a scale to reverse defensive sentiment.
Hundreds of millions of dollars in long positions were liquidated in a flash, and buying support from below remains cautious. I'm not trying to predict the bottom while the candle is selling — losing money at this point isn't worth it. I'm staying out, waiting for clearer signals of stability before considering an entry.
$BTC Is this a chance to accumulate or will there be a deeper sweep? See your perspective below 👇
#BTC #Bitcoin #Crypto #Futures
