The weekend recovery just failed. Bitcoin slid below $81,500, down 2.9% in 24 hours; Ethereum lost $2,425, down 4.8%. SOL and XRP tumbled 6-7% in the same window.
CoinGlass-tracked liquidations hit $770M in 24 hours — $685M of it from longs. The longs betting on the bounce are the main casualty.
The driver is macro, not crypto-specific: US tech stocks fell on Monday (Nasdaq closed down 0.49% on Oct 12, ET), the dollar hit an 18-month high, and Treasury yields sit near multi-decade highs. The Fear & Greed Index cooled from 69 to 57, back toward neutral.
Takeaway: BTC is about 6% below its Oct 2 high near $86,790. Until dollar strength eases, rallies are getting sold. Not financial advice.
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The weekend rebound failed. Bitcoin fell below $81,500 (down 2.9% in 24 hours), while Ethereum dropped below $2,425 (down 4.8%). SOL and XRP plunged 6-7% over the same period. Liquidations across the market totaled $770 million in 24 hours, including $685 million in long positions and just $85 million in short positions—the leveraged longs chasing the rally took the biggest hit.
The culprit is macroeconomic: US tech stocks weakened (the Nasdaq closed down 0.49% on Oct 12, ET), the dollar hit an 18-month high, and Treasury yields approached multi-year highs. The Fear & Greed Index fell from 69 to 57, with market sentiment shifting from greed toward neutral.
Takeaway: Bitcoin has fallen about 6% from its Oct 2 high of $86,800. As long as the dollar remains strong, rallies may continue to be sold. Not investment advice; for reference only.
$BTC $ETH #Bitcoin #Ethereum #Liquidation
CoinGlass-tracked liquidations hit $770M in 24 hours — $685M of it from longs. The longs betting on the bounce are the main casualty.
The driver is macro, not crypto-specific: US tech stocks fell on Monday (Nasdaq closed down 0.49% on Oct 12, ET), the dollar hit an 18-month high, and Treasury yields sit near multi-decade highs. The Fear & Greed Index cooled from 69 to 57, back toward neutral.
Takeaway: BTC is about 6% below its Oct 2 high near $86,790. Until dollar strength eases, rallies are getting sold. Not financial advice.
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The weekend rebound failed. Bitcoin fell below $81,500 (down 2.9% in 24 hours), while Ethereum dropped below $2,425 (down 4.8%). SOL and XRP plunged 6-7% over the same period. Liquidations across the market totaled $770 million in 24 hours, including $685 million in long positions and just $85 million in short positions—the leveraged longs chasing the rally took the biggest hit.
The culprit is macroeconomic: US tech stocks weakened (the Nasdaq closed down 0.49% on Oct 12, ET), the dollar hit an 18-month high, and Treasury yields approached multi-year highs. The Fear & Greed Index fell from 69 to 57, with market sentiment shifting from greed toward neutral.
Takeaway: Bitcoin has fallen about 6% from its Oct 2 high of $86,800. As long as the dollar remains strong, rallies may continue to be sold. Not investment advice; for reference only.
$BTC $ETH #Bitcoin #Ethereum #Liquidation