Democrats sweep, and crypto goes wild! But don't rush to chase.
BTC$BTC $ETH surged from its election-day low of 75,690 to above 81,000, gaining over 5% and reclaiming the $80,000 mark. ETH was even stronger, jumping 6% in a day to reclaim $2,400, with $240 million in shorts wiped out in 24 hours. The DePIN sector led the market, with Aethir and Render both soaring nearly 10%.
On the surface, it looks like an election boost; in reality, it's a short squeeze. Over the past 24 hours, $530 million in short positions were forcibly liquidated, with hourly liquidations briefly surging to $360 million. Options skew plunged from 11% to 2%—classic signs of a squeeze. The Fear & Greed Index has just recovered from fear to neutral, funding rates have turned positive, and longs are starting to pay.
But whales are split: mining company MARA turned around and sent 1,650 BTC ($133 million) to exchanges, while Strategy continued accumulating near $80,846. Sellers and buyers are operating on completely different wavelengths.
Bottom line: A sustained hold above $80,000 would confirm a recovery. After a 4,000-point gain in two days, don't chase the rally. Wait for a pullback—if $79,500 holds, then consider getting in. Election rallies come and go quickly, and expectations of hawkish policy haven't eased. #币安安全事件恢复进展：98%被盗资产已回填 #币安将恢复更多资产提现
BTC$BTC $ETH surged from its election-day low of 75,690 to above 81,000, gaining over 5% and reclaiming the $80,000 mark. ETH was even stronger, jumping 6% in a day to reclaim $2,400, with $240 million in shorts wiped out in 24 hours. The DePIN sector led the market, with Aethir and Render both soaring nearly 10%.
On the surface, it looks like an election boost; in reality, it's a short squeeze. Over the past 24 hours, $530 million in short positions were forcibly liquidated, with hourly liquidations briefly surging to $360 million. Options skew plunged from 11% to 2%—classic signs of a squeeze. The Fear & Greed Index has just recovered from fear to neutral, funding rates have turned positive, and longs are starting to pay.
But whales are split: mining company MARA turned around and sent 1,650 BTC ($133 million) to exchanges, while Strategy continued accumulating near $80,846. Sellers and buyers are operating on completely different wavelengths.
Bottom line: A sustained hold above $80,000 would confirm a recovery. After a 4,000-point gain in two days, don't chase the rally. Wait for a pullback—if $79,500 holds, then consider getting in. Election rallies come and go quickly, and expectations of hawkish policy haven't eased. #币安安全事件恢复进展：98%被盗资产已回填 #币安将恢复更多资产提现
