Look how badly gold has fallen.
Damn.
Take another look: $BTC
You don't know how bad it is until you compare.
BTC is actually pretty strong compared with gold.
BTC is just doing a normal sweep of long liquidity right now, especially targeting people who chased the breakout above the 840 resistance and went long.
This drop is mainly driven by longs hitting their stop-losses or getting liquidated, which fuels the decline.
That's fundamentally different from shorts aggressively dumping the market.
Damn.
Take another look: $BTC
You don't know how bad it is until you compare.
BTC is actually pretty strong compared with gold.
BTC is just doing a normal sweep of long liquidity right now, especially targeting people who chased the breakout above the 840 resistance and went long.
This drop is mainly driven by longs hitting their stop-losses or getting liquidated, which fuels the decline.
That's fundamentally different from shorts aggressively dumping the market.
