This morning’s wick ultimately wiped out “Machi Big Brother” and a bunch of leveraged longs. BTC wicked down to just above $80,000, and total liquidations across the crypto market hit $485 million in just one hour. Longs accounted for $464 million, with ETH alone making up $200 million.
Huang Licheng went from $56,000 to $12.25 million over four months, but this move liquidated him back down to $21,800—more than half a year of work down the drain, and then some. Another whale holding a $352 million ETH long is now sitting on nearly $19 million in unrealized losses, with the liquidation price just $60 away. One more slight drop and they’ll be liquidated to the dollar.
Still, as painful as this wick was, it’s not necessarily a bad thing. This is already the third time BTC has retested the area around $81,000. And on-chain data shows that losses have actually been shrinking with each dip, suggesting panic selling is easing. More traders are shaky holders stopping out than the market collapsing outright. The hotter-than-expected U.S. inflation is certainly weighing on risk assets, but the crypto market’s repeated tests of support look more like a shakeout of weak hands, building momentum for the next move.
As for altcoins, don’t even get me started. ETH has fallen below $2,400, and smaller coins are faring even worse. But these are exactly the moments when you need to keep an eye on assets with real narratives and investor interest, rather than blindly buying the dip on garbage coins.
This is definitely not the time to chase shorts. The $80,000 level has already been tested three times: if it breaks, that’s a real crash; if it holds, this could just be a false breakdown. I’d wait for signs of stabilization—for example, a strong-volume bullish candle reclaiming $81,000—before considering scaling into longs. Don’t go too heavy, though: macro pressure is still there, and the Fed can change its tune in a heartbeat.
Maybe this is the eve of “be greedy when others are fearful,” but don’t get greedy too soon. There’s no harm in waiting until more of the weak hands have been shaken out before entering. $ETH #BTC跌破8.1万美元
Huang Licheng went from $56,000 to $12.25 million over four months, but this move liquidated him back down to $21,800—more than half a year of work down the drain, and then some. Another whale holding a $352 million ETH long is now sitting on nearly $19 million in unrealized losses, with the liquidation price just $60 away. One more slight drop and they’ll be liquidated to the dollar.
Still, as painful as this wick was, it’s not necessarily a bad thing. This is already the third time BTC has retested the area around $81,000. And on-chain data shows that losses have actually been shrinking with each dip, suggesting panic selling is easing. More traders are shaky holders stopping out than the market collapsing outright. The hotter-than-expected U.S. inflation is certainly weighing on risk assets, but the crypto market’s repeated tests of support look more like a shakeout of weak hands, building momentum for the next move.
As for altcoins, don’t even get me started. ETH has fallen below $2,400, and smaller coins are faring even worse. But these are exactly the moments when you need to keep an eye on assets with real narratives and investor interest, rather than blindly buying the dip on garbage coins.
This is definitely not the time to chase shorts. The $80,000 level has already been tested three times: if it breaks, that’s a real crash; if it holds, this could just be a false breakdown. I’d wait for signs of stabilization—for example, a strong-volume bullish candle reclaiming $81,000—before considering scaling into longs. Don’t go too heavy, though: macro pressure is still there, and the Fed can change its tune in a heartbeat.
Maybe this is the eve of “be greedy when others are fearful,” but don’t get greedy too soon. There’s no harm in waiting until more of the weak hands have been shaken out before entering. $ETH #BTC跌破8.1万美元