Heads up, $BTC is finally slipping out of its range. We just tagged a low of $80,801 on Binance as macro pressure mounts. Rising Treasury yields and a stronger dollar are clearly weighing on risk appetite, but there is some technical noise adding to the weight.
According to CoinDesk, a viral warning about AI potentially breaking the cryptography behind BTC and $ETH has sparked a heated debate. While some suggest moving funds to new addresses, experts are calling this pure fear mongering with zero logical basis. This type of FUD usually hits hardest when the market is already thin.
Looking at the data, ETH is taking a harder hit at $2,437, down over 5.4%. Despite the slide, about 64.5% of accounts on Binance futures are still holding longs. This suggests we might see more liquidations if we do not find a floor soon. I am not seeing any strength here yet. The RSI is sitting at 35 and the price is struggling to reclaim any recent levels. I am watching the daily MA50 at $80,534.
Source: CoinDesk
According to CoinDesk, a viral warning about AI potentially breaking the cryptography behind BTC and $ETH has sparked a heated debate. While some suggest moving funds to new addresses, experts are calling this pure fear mongering with zero logical basis. This type of FUD usually hits hardest when the market is already thin.
Looking at the data, ETH is taking a harder hit at $2,437, down over 5.4%. Despite the slide, about 64.5% of accounts on Binance futures are still holding longs. This suggests we might see more liquidations if we do not find a floor soon. I am not seeing any strength here yet. The RSI is sitting at 35 and the price is struggling to reclaim any recent levels. I am watching the daily MA50 at $80,534.
Source: CoinDesk