The 76,000 level was breached last night.

I was looking through the 30-day daily charts this morning: BTC’s low over the past month was around 76,000, and its high was 84,100. It’s currently trading at around $BTC 76,100, down 5.6% in 24 hours, basically sitting right on the bottom of the range. It had just climbed back to 80,000 the day before yesterday on election news, and gave it all back in a little over a day. I’ve seen this kind of back-and-forth plenty of times over the years. There’s only one lesson: when the bottom of a range is tested for the first time, don’t rush to call it a bottom.

My technical view is pretty simple. The intraday low for this move was around 75,600. Only if it holds can we talk about getting back to the 78,000–80,000 area to test resistance. If the daily close is below 75,600, the monthly range will have broken, and the next thing to watch is how sentiment absorbs it—not to guess at a specific price level. Yesterday’s drop was triggered by a broad sell-off in U.S. tech and AI stocks. The Nasdaq reportedly fell into correction territory, and crypto was dragged down along with it; nothing major happened within crypto itself.

$ETH It looks worse, around 2,240, down 7.8% over 24 hours and hovering near its 30-day low of about 2,236. High-beta assets like ETH always fall harder when the broader market lets up. I personally avoid adding leverage to ETH at times like this.

Altcoins are where the real action is today. Among the higher-volume coins, WLD and ENA are down the most, around 11%. UNI is down 10.5%, ONDO and PUMP are also down 10%, and HYPE has fallen 8.5%.

By contrast, $ZEC is basically flat over 24 hours, still around 1,297, and is up a modest 2.7% over the past 7 days. AAVE is down just over 2%, while BCH and TRX are also holding up better than the broader market. When the same big red candle leaves some assets down by half and others barely moving, that difference is more worth remembering than how many points BTC has fallen. My take is that leverage is being flushed out of the assets that had the weakest gains over the past few days, while those with real trading demand or an independent narrative aren't being rushed to sell. But holding up well doesn't mean an asset is about to rise. If the broader market keeps falling, even the more resilient ones could catch up on the downside. I've learned that the hard way.

As for sentiment, the Fear and Greed Index dropped from 50 to 28 in a day, returning to the fear zone. According to publicly available data, around $1.08 billion in positions were liquidated across the market over 24 hours, with longs accounting for roughly 90%. Fund flows aren't encouraging either: Lookonchain reports that BTC spot ETFs saw net outflows of about $1.12 billion over the past 7 days, while ETH ETFs saw around $420 million.

A few things I'll be watching today: first, whether tech stocks stabilize after the U.S. market opens—the crypto market has been moving almost in lockstep with the Nasdaq over the past couple of days. Second, whether BTC can close its daily candle back above $76,000. Third, the ETFs' daily flow figures released tonight, to see whether institutions are still pulling out.

My plan is to stay out of futures, make no changes to my spot holdings, and wait for the daily candle to give us an answer.

Curious to hear from everyone: after last night's plunge, are you holding the assets that held up, or the ones that fell the hardest?

The above is just my personal opinion and is not investment advice. Markets involve risk.