On Monday $BTC dipped to around $82,600, breaking below $83,000—down about 2% over 24 hours.
The spark isn’t on-chain: Iran refused to make concessions to reopen the Strait of Hormuz; Trump vetoed a ceasefire proposal; and Brent crude was pushed up to $108. Meanwhile, the 10-year U.S. Treasury yield broke above 5.2%, hitting the highest level since 2007.
The result is a synchronized sell-off of non-yielding assets: across the market, about $380 million was liquidated in 24 hours, with 122,000 people forced out; altcoins fell even harder, funding rates turned negative. Binance saw a net outflow of more than 13,800 BTC in a single day—the largest since 2023.
I tend to believe this is macro squeeze rather than crypto fundamentals worsening: last week spot ETFs were still net inflows of $2.39 billion—what got wiped out was the leveraged positions.
For the support zone at $79,500–$82,000—are you going to buy, or wait for it to break?
#BitcoinBreaksBelow$83K
The spark isn’t on-chain: Iran refused to make concessions to reopen the Strait of Hormuz; Trump vetoed a ceasefire proposal; and Brent crude was pushed up to $108. Meanwhile, the 10-year U.S. Treasury yield broke above 5.2%, hitting the highest level since 2007.
The result is a synchronized sell-off of non-yielding assets: across the market, about $380 million was liquidated in 24 hours, with 122,000 people forced out; altcoins fell even harder, funding rates turned negative. Binance saw a net outflow of more than 13,800 BTC in a single day—the largest since 2023.
I tend to believe this is macro squeeze rather than crypto fundamentals worsening: last week spot ETFs were still net inflows of $2.39 billion—what got wiped out was the leveraged positions.
For the support zone at $79,500–$82,000—are you going to buy, or wait for it to break?
#BitcoinBreaksBelow$83K