Bitcoin was hit by several blows at once again—and this time there’s no need to invent a single “culprit.”
$BTC fell to $82,734 as Brent climbed above $100 a barrel amid escalating tensions around Iran and the Strait of Hormuz. Meanwhile, 10-year Treasuries were yielding around 5.36%—a level the market hadn’t seen in about 24 years.
Then leverage entered the picture.
Over the past 24 hours, crypto liquidations reached around $697 million, of which $647 million came from long positions.
There’s also a high-profile on-chain factor: a wallet linked to the US government moved approximately $670 million in BTC, $USDT and $BNB , with BTC and USDT going to Coinbase Prime.
But I’ll pause here. A transfer to Coinbase Prime doesn’t necessarily mean a sale, and its direct impact on BTC’s decline hasn’t been proven.
I generally trust this explanation more: expensive oil raises inflation risks, Treasuries become more attractive, risk assets come under pressure, and leverage then amplifies the move through liquidations.
Markets don’t always fall because of one bad headline. Sometimes it’s enough for several ordinary risks to show up uninvited at the same time.
If you want to break down moves like these without searching for some magical “reason for the drop,” subscribe to @MoonMan567
$BTC fell to $82,734 as Brent climbed above $100 a barrel amid escalating tensions around Iran and the Strait of Hormuz. Meanwhile, 10-year Treasuries were yielding around 5.36%—a level the market hadn’t seen in about 24 years.
Then leverage entered the picture.
Over the past 24 hours, crypto liquidations reached around $697 million, of which $647 million came from long positions.
There’s also a high-profile on-chain factor: a wallet linked to the US government moved approximately $670 million in BTC, $USDT and $BNB , with BTC and USDT going to Coinbase Prime.
But I’ll pause here. A transfer to Coinbase Prime doesn’t necessarily mean a sale, and its direct impact on BTC’s decline hasn’t been proven.
I generally trust this explanation more: expensive oil raises inflation risks, Treasuries become more attractive, risk assets come under pressure, and leverage then amplifies the move through liquidations.
Markets don’t always fall because of one bad headline. Sometimes it’s enough for several ordinary risks to show up uninvited at the same time.
If you want to break down moves like these without searching for some magical “reason for the drop,” subscribe to @MoonMan567