BTC breaks below 81,000; altcoins are in even worse shape
Yesterday, BTC was still hovering around 83,400. Today, it broke straight through 81,000—sliding from 83,403 to 81,778 in a day, a drop of nearly 2%. The key thing is that liquidations of long positions below are still piling up, and the bears clearly aren’t ready to back off.
I’ve said it before: leveraged long positions have gotten way too crowded this time around. Once the price breaks below a key level, it can trigger a chain reaction of liquidations with no end in sight. ETH is the clearest example: one guy grew his account from 150,000 to 12 million, rode a few roller coasters back and forth until he was left with 1 million, and then got completely liquidated in this latest move. In a market like this, going long is just asking to get rekt.
SOL hasn’t escaped either. It’s now at 103.85, down more than 60% from its peak. When BTC drops 2%, it’s normal for altcoins to fall 5–8 points—when liquidity dries up, smaller-cap coins are the first to fold.
Tonight, watch to see if the 80,000 psychological level holds. If it doesn’t, the next stop is 78,000. In this kind of market, not losing money is a win—and those sitting on the sidelines are the most relaxed.
🐶 Come check out Old Ma’s little dog ✨🚀
Yesterday, BTC was still hovering around 83,400. Today, it broke straight through 81,000—sliding from 83,403 to 81,778 in a day, a drop of nearly 2%. The key thing is that liquidations of long positions below are still piling up, and the bears clearly aren’t ready to back off.
I’ve said it before: leveraged long positions have gotten way too crowded this time around. Once the price breaks below a key level, it can trigger a chain reaction of liquidations with no end in sight. ETH is the clearest example: one guy grew his account from 150,000 to 12 million, rode a few roller coasters back and forth until he was left with 1 million, and then got completely liquidated in this latest move. In a market like this, going long is just asking to get rekt.
SOL hasn’t escaped either. It’s now at 103.85, down more than 60% from its peak. When BTC drops 2%, it’s normal for altcoins to fall 5–8 points—when liquidity dries up, smaller-cap coins are the first to fold.
Tonight, watch to see if the 80,000 psychological level holds. If it doesn’t, the next stop is 78,000. In this kind of market, not losing money is a win—and those sitting on the sidelines are the most relaxed.
🐶 Come check out Old Ma’s little dog ✨🚀