#BitcoinFiveWeeklyLosses
Bitcoin just closed in the red for the 5th consecutive week. 📉
It fell from $86,500 to $75,000, but the real cause didn’t come from crypto: it came from Wall Street.
Last week, artificial intelligence-related stocks collapsed. Sandisk alone lost 27% and Micron 22%, triggering record sell-offs in institutional funds.
This panic spread to the crypto market:
• More than $1,280 million flowed out of Bitcoin ETFs in a single week.
• More than $1,100 million worth of long positions were liquidated.
The price is now fighting to hold its key support at $75,000. If it breaks below that level on high volume, the next technical target is $73,200 (its 200-day moving average), or even $70,000.
The lesson: when traditional markets sneeze, crypto catches a fever. This week’s big test will be the U.S. inflation (CPI) figure.
Do you think $75K will hold as a floor, or is a deeper drop on the horizon?
$BTC
$PIEVERSE
$ON #ON
Bitcoin just closed in the red for the 5th consecutive week. 📉
It fell from $86,500 to $75,000, but the real cause didn’t come from crypto: it came from Wall Street.
Last week, artificial intelligence-related stocks collapsed. Sandisk alone lost 27% and Micron 22%, triggering record sell-offs in institutional funds.
This panic spread to the crypto market:
• More than $1,280 million flowed out of Bitcoin ETFs in a single week.
• More than $1,100 million worth of long positions were liquidated.
The price is now fighting to hold its key support at $75,000. If it breaks below that level on high volume, the next technical target is $73,200 (its 200-day moving average), or even $70,000.
The lesson: when traditional markets sneeze, crypto catches a fever. This week’s big test will be the U.S. inflation (CPI) figure.
Do you think $75K will hold as a floor, or is a deeper drop on the horizon?
$BTC
$PIEVERSE
$ON #ON
