📉 Both longs and shorts got wrecked! Bitcoin made a $3,000 round trip in one day—is the rebound already over?
Yesterday, Bitcoin first surged to around $85,000, squeezing shorts hard (about $173 million in short positions were liquidated), then reversed and plunged to $81,800. More than $210 million in long positions were liquidated within 12 hours. Both sides got hit in a single day, with total liquidations of about $431 million over 24 hours (CoinGlass data).
Key technical levels:
🔹 $82,500 is the dividing line between bulls and bears—hold above it and we may see range-bound trading; break below and some analysts are eyeing $70,000
🔹 Spot trading volume remains weak, leaving prices vulnerable to large sell orders in the short term; volatility risk hasn’t gone away
🔹 Leverage has been flushed out once, and funding rates have cooled—this is a typical “post-deleveraging recovery” phase
Macro picture: Tesla lowered its spending outlook, while Lam Research’s guidance was weak, putting pressure on Nasdaq futures. The FOMC meets next week on October 28, and markets assign more than an 80% chance to rates staying unchanged. Ahead of the meeting, expect more choppy, frustrating trading.
Strategy: Don’t chase the rebound. Wait for a confirmed reclaim of $82,500 before turning bullish; if it breaks below, wait for the $70,000 area. Futures traders should reduce leverage—using high leverage in a market that wipes out both sides is just handing your money away.
Do you think $82,500 is an impenetrable wall, or a stepping stone on the way to $70,000? Share your thoughts in the comments 👇
#比特币 #BTC #加密市场 #TechnicalAnalysis
⚠️ Personal opinion only, for reference—not financial advice. DYOR and be aware of the risks.
Yesterday, Bitcoin first surged to around $85,000, squeezing shorts hard (about $173 million in short positions were liquidated), then reversed and plunged to $81,800. More than $210 million in long positions were liquidated within 12 hours. Both sides got hit in a single day, with total liquidations of about $431 million over 24 hours (CoinGlass data).
Key technical levels:
🔹 $82,500 is the dividing line between bulls and bears—hold above it and we may see range-bound trading; break below and some analysts are eyeing $70,000
🔹 Spot trading volume remains weak, leaving prices vulnerable to large sell orders in the short term; volatility risk hasn’t gone away
🔹 Leverage has been flushed out once, and funding rates have cooled—this is a typical “post-deleveraging recovery” phase
Macro picture: Tesla lowered its spending outlook, while Lam Research’s guidance was weak, putting pressure on Nasdaq futures. The FOMC meets next week on October 28, and markets assign more than an 80% chance to rates staying unchanged. Ahead of the meeting, expect more choppy, frustrating trading.
Strategy: Don’t chase the rebound. Wait for a confirmed reclaim of $82,500 before turning bullish; if it breaks below, wait for the $70,000 area. Futures traders should reduce leverage—using high leverage in a market that wipes out both sides is just handing your money away.
Do you think $82,500 is an impenetrable wall, or a stepping stone on the way to $70,000? Share your thoughts in the comments 👇
#比特币 #BTC #加密市场 #TechnicalAnalysis
⚠️ Personal opinion only, for reference—not financial advice. DYOR and be aware of the risks.