Why is crypto falling sharply today? 📉
Yesterday, the S&P 500 and Nasdaq both hit new highs, leading many traders to expect BTC and ETH to continue following stocks’ upward momentum.
But the market went the other way.
BTC was rejected around the $86.5K–$87K range, then dropped sharply and triggered a wave of long liquidations. In 24 hours, more than $550M in leveraged positions were wiped out, mostly longs.
In my view, this looks more like a leverage flush than confirmation of a new downtrend.
Yesterday, the S&P 500 and Nasdaq both hit new highs, leading many traders to expect BTC and ETH to continue following stocks’ upward momentum.
But the market went the other way.
BTC was rejected around the $86.5K–$87K range, then dropped sharply and triggered a wave of long liquidations. In 24 hours, more than $550M in leveraged positions were wiped out, mostly longs.
In my view, this looks more like a leverage flush than confirmation of a new downtrend.
