The $78,000 level I marked two hours ago just broke — and Bitcoin hit a weekly low.
Facts: BTC fell from around $80,390 at 19:00 WIB to around $76,000 at 23:00 WIB, with a session low of $75,533 — breaking below the November 4 low area around the $75,600s. ETH followed, falling to around $2,251 (-7% from $2,421), SOL to $90 (-6.6%), and XRP to $1.245. Around $370 million in leveraged positions were liquidated in one hour (Kobeissi Letter, via CryptoBriefing, Nov. 5); TokenPost put the hourly figure at nearly $600 million.
My take: this is no longer a correction within a range. $80,000 is now resistance, and $78,000, which was still acting as a floor two hours ago, is now a second resistance level. The triggers came in layers: U.S. jobless claims at 189,000 — the lowest since 1969 — plus a sell-off in tech stocks as Wall Street opened, a day after the Bank of England raised interest rates to 4.00%. A global hawkish narrative is weighing on risk assets, accelerated by cascading liquidations of long positions.
What I’m watching: tomorrow’s NFP at 20:30 WIB (forecast: 65,000) and whether BTC can reclaim $78,000 before then. Holding above $75,500 would mean a double weekly low has formed; a break below opens the way to $73,000.
Do you think the $75,500-area low will hold until NFP, or break first?
This is my analysis, not financial advice — always DYOR.
#Bitcoin #Likuidasi $BTC $ETH $SOL
Facts: BTC fell from around $80,390 at 19:00 WIB to around $76,000 at 23:00 WIB, with a session low of $75,533 — breaking below the November 4 low area around the $75,600s. ETH followed, falling to around $2,251 (-7% from $2,421), SOL to $90 (-6.6%), and XRP to $1.245. Around $370 million in leveraged positions were liquidated in one hour (Kobeissi Letter, via CryptoBriefing, Nov. 5); TokenPost put the hourly figure at nearly $600 million.
My take: this is no longer a correction within a range. $80,000 is now resistance, and $78,000, which was still acting as a floor two hours ago, is now a second resistance level. The triggers came in layers: U.S. jobless claims at 189,000 — the lowest since 1969 — plus a sell-off in tech stocks as Wall Street opened, a day after the Bank of England raised interest rates to 4.00%. A global hawkish narrative is weighing on risk assets, accelerated by cascading liquidations of long positions.
What I’m watching: tomorrow’s NFP at 20:30 WIB (forecast: 65,000) and whether BTC can reclaim $78,000 before then. Holding above $75,500 would mean a double weekly low has formed; a break below opens the way to $73,000.
Do you think the $75,500-area low will hold until NFP, or break first?
This is my analysis, not financial advice — always DYOR.
#Bitcoin #Likuidasi $BTC $ETH $SOL