With the midterm elections now over, despite a crypto-unfriendly party winning, Bitcoin somehow made a huge V-shaped reversal. This market move is actually really interesting, with lots of details:
Yesterday, BlackRock led the sell-off, driving Bitcoin down in a sharp wick to around 75,700. That level was chosen with real precision—it just breached the psychological line held by the most stubborn bulls and even triggered all their stop-loss orders. Once those panic-sold coins changed hands, the weak positions below were instantly shaken out.
The market saw about $900 million in liquidations yesterday: $370 million in long positions and $530 million in shorts. Many people were still stunned after getting liquidated when $236 million flowed into Fidelity. BlackRock saw $201 million in outflows, while Fidelity had $236 million in inflows. Money didn’t leave; the coins simply changed hands on a large scale between the two institutions.
After all that, the price was still firmly pinned near 80,000. That’s the average cost zone where BlackRock has been accumulating for over two months. The big players moved funds around and the coins changed hands, but the price didn’t budge—while positions got wiped out 🤣
The most remarkable part was the V-shaped reversal that followed. The price shot up fast and hard. It wasn’t because a flood of spot buying suddenly came in; rather, the shorts who had entered at higher levels saw that the sell-off failed to push prices lower and instead sparked a rally. They panicked and were forced to close their positions at a loss—for example, even Aoying was stopped out. It was the forced buying from those covering their shorts that pushed the price straight back up.
Wall Street used election fears as cover: first, it drove prices down in a sharp wick to liquidate the bulls, allowing institutions to exchange coins at a low cost. Then it used the mechanical buying from short covering to bring prices back up. After all that, the market looked like it had merely moved sideways, but underneath, the structure of capital had been reshuffled by major institutions. Politicians put on a show up on stage, while whales scoop up coins below—that’s probably the script.
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Yesterday, BlackRock led the sell-off, driving Bitcoin down in a sharp wick to around 75,700. That level was chosen with real precision—it just breached the psychological line held by the most stubborn bulls and even triggered all their stop-loss orders. Once those panic-sold coins changed hands, the weak positions below were instantly shaken out.
The market saw about $900 million in liquidations yesterday: $370 million in long positions and $530 million in shorts. Many people were still stunned after getting liquidated when $236 million flowed into Fidelity. BlackRock saw $201 million in outflows, while Fidelity had $236 million in inflows. Money didn’t leave; the coins simply changed hands on a large scale between the two institutions.
After all that, the price was still firmly pinned near 80,000. That’s the average cost zone where BlackRock has been accumulating for over two months. The big players moved funds around and the coins changed hands, but the price didn’t budge—while positions got wiped out 🤣
The most remarkable part was the V-shaped reversal that followed. The price shot up fast and hard. It wasn’t because a flood of spot buying suddenly came in; rather, the shorts who had entered at higher levels saw that the sell-off failed to push prices lower and instead sparked a rally. They panicked and were forced to close their positions at a loss—for example, even Aoying was stopped out. It was the forced buying from those covering their shorts that pushed the price straight back up.
Wall Street used election fears as cover: first, it drove prices down in a sharp wick to liquidate the bulls, allowing institutions to exchange coins at a low cost. Then it used the mechanical buying from short covering to bring prices back up. After all that, the market looked like it had merely moved sideways, but underneath, the structure of capital had been reshuffled by major institutions. Politicians put on a show up on stage, while whales scoop up coins below—that’s probably the script.
Follow me and join my group chat so you don’t lose your way 👇
