✴️ BTC AT CROSSROADS _ DEEP CORRECTION OR REBOUND
🔻 BTC sharply dipped from 84200 to below 82 K in a sharp way. Overall Crypto market cap dropped to $2.81 T (-1.68%).
Losing $2.8 Trillion support might push the market to $2.65 Trillion support.
🔹 BTC and ETH reversed positive Spot ETF inflows into Negative OUFLOWS of $639 Million on October 7.
🔹 Sharp dip of BTC caught Leverage Longs off-guard with $77.45 million liquidations, causing forced closing of long positions.
❇️ MAIN CAUSES
☑️ Deteriorating war-like situations in the Persian Gulf.
☑️ Rising US Treasury Yields to multi-decade highs, Japanese Bond yields soaring and rising DXY index.
☑️ Hawkish Fed minutes and commentary fuelling the bearish sentiments.
☑️ US government moving around $100 million seized crypto assets to exchanges.
🔶 WATCHOUTS
👆 Any sign of progress in talks between the US Iran.
👆 Spot BTC ETF inflows.
👆 BTC Holding 84 K level.
👆 Oil prices cooling off below $100 per barrel.
👆 Institutional confidence and accumulations.
#Write2Earn
🔻 BTC sharply dipped from 84200 to below 82 K in a sharp way. Overall Crypto market cap dropped to $2.81 T (-1.68%).
Losing $2.8 Trillion support might push the market to $2.65 Trillion support.
🔹 BTC and ETH reversed positive Spot ETF inflows into Negative OUFLOWS of $639 Million on October 7.
🔹 Sharp dip of BTC caught Leverage Longs off-guard with $77.45 million liquidations, causing forced closing of long positions.
❇️ MAIN CAUSES
☑️ Deteriorating war-like situations in the Persian Gulf.
☑️ Rising US Treasury Yields to multi-decade highs, Japanese Bond yields soaring and rising DXY index.
☑️ Hawkish Fed minutes and commentary fuelling the bearish sentiments.
☑️ US government moving around $100 million seized crypto assets to exchanges.
🔶 WATCHOUTS
👆 Any sign of progress in talks between the US Iran.
👆 Spot BTC ETF inflows.
👆 BTC Holding 84 K level.
👆 Oil prices cooling off below $100 per barrel.
👆 Institutional confidence and accumulations.
#Write2Earn