Last night I was still saying that the wall at $80K hadn’t been broken through, and that this was just a reprieve—not a reversal. Then, overnight, shorts got liquidated to the tune of $378 million in just one hour, and $BTC shot straight back from around $75.6K to around $80.5K. That’s a pretty brutal reality check. I admit it.
In plain English: once the election results came in, U.S. stocks rallied, and shorts lined up to get carried out. $ETH climbed above $2,420 too, gaining nearly 6% in a day. But don’t pop the champagne just yet: ETFs have seen net outflows of $1.16 billion over the past three days. The real money hasn’t come back yet, so this move looks more like shorts being forced to buy their way out and push prices higher.
Keep an eye on two things today: U.S. initial jobless claims at 21:30 tonight, forecast at 195,000; and tomorrow’s nonfarm payrolls, forecast at 65,000 new jobs. If the data disappoints, the footing that’s just stabilized above $80K could start wobbling again. Just my personal opinion, not financial advice.
#USMidtermElections #BTC #ETH
Is holding above $80K a real reversal, or will we fall back to $78K once the shorts are done getting liquidated? Pick a side in the comments.
In plain English: once the election results came in, U.S. stocks rallied, and shorts lined up to get carried out. $ETH climbed above $2,420 too, gaining nearly 6% in a day. But don’t pop the champagne just yet: ETFs have seen net outflows of $1.16 billion over the past three days. The real money hasn’t come back yet, so this move looks more like shorts being forced to buy their way out and push prices higher.
Keep an eye on two things today: U.S. initial jobless claims at 21:30 tonight, forecast at 195,000; and tomorrow’s nonfarm payrolls, forecast at 65,000 new jobs. If the data disappoints, the footing that’s just stabilized above $80K could start wobbling again. Just my personal opinion, not financial advice.
#USMidtermElections #BTC #ETH
Is holding above $80K a real reversal, or will we fall back to $78K once the shorts are done getting liquidated? Pick a side in the comments.
