Bitcoin has run into that wall of selling pressure for the third time, but its footing is different from a year ago. It has been rejected again in the $87,000 range—its third time since September 23—and the total crypto market cap has fallen back to around $2.93 trillion.
👉 我每天盯的价位清单、判断更正，都先发群里。进来对着看
There are three questions to ask: Where is support? Who is buying? Could another cascade of liquidations happen? On the support front, the cost-basis benchmark of around $80,400 is holding below the price. After closing above this level for several weeks in a row, most invested capital is modestly in profit. On the buying front, spot ETFs and institutional asset managers rebalance according to their allocations, buying passively during dips, while leveraged positions have already been liquidated near the highs. As for a potential cascade, the pullback from last year’s $126,000 high has been only about 32%—far shallower than the declines of more than 70% seen a year into previous cycles.
At that wall of selling pressure, what’s missing is enough buying to absorb it. Only once Bitcoin holds above $87,000 can we talk about a run toward highs not seen in nearly eight months.
#以太坊q3涨70%流动性下降
👉 我每天盯的价位清单、判断更正，都先发群里。进来对着看
There are three questions to ask: Where is support? Who is buying? Could another cascade of liquidations happen? On the support front, the cost-basis benchmark of around $80,400 is holding below the price. After closing above this level for several weeks in a row, most invested capital is modestly in profit. On the buying front, spot ETFs and institutional asset managers rebalance according to their allocations, buying passively during dips, while leveraged positions have already been liquidated near the highs. As for a potential cascade, the pullback from last year’s $126,000 high has been only about 32%—far shallower than the declines of more than 70% seen a year into previous cycles.
At that wall of selling pressure, what’s missing is enough buying to absorb it. Only once Bitcoin holds above $87,000 can we talk about a run toward highs not seen in nearly eight months.
#以太坊q3涨70%流动性下降
