Last night, $BTC dropped below 83,000 again. How are you guys holding up? 😅
Here’s why: after reviewing this whole move, all I can say is that this isn’t a problem unique to crypto—it’s the macro backdrop.
1. Oil broke above $101, the 10-year Treasury yield surged past 5.3%, and the 30-year yield hit 5.7%—its highest level since 2002. The dollar index also kept climbing. These three major headwinds hit at once, battering risk assets across the board. Neither U.S. stocks nor gold escaped.
2. The data tells the story: over the past 24 hours, $714 million in positions were liquidated across the market, affecting 124,000 traders. The largest single liquidation was on Binance: a $26.64 million $ETH perpetual position vanished in an instant. $BTC was rejected at 86,978 and touched a low of 82,776, while $ETH fell 6% in a day.
3. What to watch next: tonight’s Fed meeting minutes could be a wild card, but the market has already priced in a 78% chance of no rate hike in October. Personally, I think the key is whether 83,000 holds. If it doesn’t, 80,000 is the next major level to watch. Technically, the RSI has already fallen to 8.86, deep into oversold territory. A rebound will come eventually, but don’t rush to catch a falling knife.
My conclusion: this drop was driven by macro conditions, not a problem with crypto itself. What the sell-off has exposed is a liquidity issue. Hang in there for now, and we’ll see after October.
Share your thoughts in the comments 👇 Do you think 80,000 will break?
Just my personal opinion; this is not investment advice.
#BTC #比特币 #Ethereum
Here’s why: after reviewing this whole move, all I can say is that this isn’t a problem unique to crypto—it’s the macro backdrop.
1. Oil broke above $101, the 10-year Treasury yield surged past 5.3%, and the 30-year yield hit 5.7%—its highest level since 2002. The dollar index also kept climbing. These three major headwinds hit at once, battering risk assets across the board. Neither U.S. stocks nor gold escaped.
2. The data tells the story: over the past 24 hours, $714 million in positions were liquidated across the market, affecting 124,000 traders. The largest single liquidation was on Binance: a $26.64 million $ETH perpetual position vanished in an instant. $BTC was rejected at 86,978 and touched a low of 82,776, while $ETH fell 6% in a day.
3. What to watch next: tonight’s Fed meeting minutes could be a wild card, but the market has already priced in a 78% chance of no rate hike in October. Personally, I think the key is whether 83,000 holds. If it doesn’t, 80,000 is the next major level to watch. Technically, the RSI has already fallen to 8.86, deep into oversold territory. A rebound will come eventually, but don’t rush to catch a falling knife.
My conclusion: this drop was driven by macro conditions, not a problem with crypto itself. What the sell-off has exposed is a liquidity issue. Hang in there for now, and we’ll see after October.
Share your thoughts in the comments 👇 Do you think 80,000 will break?
Just my personal opinion; this is not investment advice.
#BTC #比特币 #Ethereum