🚨 $1.05 billion liquidated in one day, 88% of it from longs: Bitcoin falls to $74,780, its lowest since August 21.
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Bitcoin hovered around $75,570 on Friday, hitting an intraday low of $74,780.91—the lowest reading in 77 days. The figure itself isn’t shocking; what’s shocking is how it happened.
📊 CoinGlass data: $1.05 billion in liquidations across the market over the past 24 hours, including $930 million in longs, or 88.2%, and just $125 million in shorts. Bitcoin accounted for $267 million, of which 88.9% came from longs; Ethereum saw $167 million, with 81.1% from longs.
🔻 The sentiment index fell to 28, nearing extreme fear. A week ago, it was neutral; all that changed in between was a midterm election.
The trigger came from the stock market. The Nasdaq fell 5.52% on Thursday, its worst single-day drop in 19 months; the Philadelphia Semiconductor Index fell more than 12%; and Nvidia dropped more than 9% in a single day. The S&P 500 fell 4.36%, wiping out around $3 trillion in market value. After Democrats won the midterm elections, markets began worrying that tighter AI regulation could slow data center construction—the foundation of this year’s chip rally.
Another catalyst was employment data. October’s nonfarm payrolls came in stronger than expected, reviving expectations of a rate hike in December. When borrowing costs rise, speculative assets are the first to take a hit.
📉 The technical picture looks just as bad: Bitcoin has fallen below its 50-day EMA at $79,756 and its 200-day EMA at $76,497. It was still above $87,000 in September; now it’s making a series of lower highs, along with yet another down week.
The 50-day EMA is still above the 200-day EMA, so the long-term structure remains intact. But the price is now below both moving averages—the lagging indicators are still cheering on the bulls, while the price has already moved on.
That’s the brutality of leverage: you can get the direction right and still be wiped out by a single wick.
💡 What’s really worth watching isn’t the amount liquidated this time, but the leverage structure—88% of liquidations came from longs, suggesting this drop wasn’t driven by an aggressive short attack, but by longs stampeding out. Moves like this can end quickly, but the rebound is also more fragile.
⚠️ If rates really are hiked again in December, can your positions withstand another drop to $74,000?
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#比特币 #BTC #ETF #CryptoRegulation
Group: 邀请您加入我的群组 悟空粉丝群
Bitcoin hovered around $75,570 on Friday, hitting an intraday low of $74,780.91—the lowest reading in 77 days. The figure itself isn’t shocking; what’s shocking is how it happened.
📊 CoinGlass data: $1.05 billion in liquidations across the market over the past 24 hours, including $930 million in longs, or 88.2%, and just $125 million in shorts. Bitcoin accounted for $267 million, of which 88.9% came from longs; Ethereum saw $167 million, with 81.1% from longs.
🔻 The sentiment index fell to 28, nearing extreme fear. A week ago, it was neutral; all that changed in between was a midterm election.
The trigger came from the stock market. The Nasdaq fell 5.52% on Thursday, its worst single-day drop in 19 months; the Philadelphia Semiconductor Index fell more than 12%; and Nvidia dropped more than 9% in a single day. The S&P 500 fell 4.36%, wiping out around $3 trillion in market value. After Democrats won the midterm elections, markets began worrying that tighter AI regulation could slow data center construction—the foundation of this year’s chip rally.
Another catalyst was employment data. October’s nonfarm payrolls came in stronger than expected, reviving expectations of a rate hike in December. When borrowing costs rise, speculative assets are the first to take a hit.
📉 The technical picture looks just as bad: Bitcoin has fallen below its 50-day EMA at $79,756 and its 200-day EMA at $76,497. It was still above $87,000 in September; now it’s making a series of lower highs, along with yet another down week.
The 50-day EMA is still above the 200-day EMA, so the long-term structure remains intact. But the price is now below both moving averages—the lagging indicators are still cheering on the bulls, while the price has already moved on.
That’s the brutality of leverage: you can get the direction right and still be wiped out by a single wick.
💡 What’s really worth watching isn’t the amount liquidated this time, but the leverage structure—88% of liquidations came from longs, suggesting this drop wasn’t driven by an aggressive short attack, but by longs stampeding out. Moves like this can end quickly, but the rebound is also more fragile.
⚠️ If rates really are hiked again in December, can your positions withstand another drop to $74,000?
Tap my profile to watch the livestream + join my fan group for daily strategies 🚀
#比特币 #BTC #ETF #CryptoRegulation
