$479M in leveraged positions got wiped out in the last 24 hours, and longs took most of it again — $360M, 75% of the total, against $120M of shorts. $ETH led the damage with around $153M liquidated, the most of any coin.
The Fear & Greed Index slipped to 28, still Fear, down from 29 yesterday and 50 last week. That is the 7th straight day the market has sat in Fear. $BTC is around $72,775 and $ETH near $2,016, and traders are still not rushing back in.
My take: the wipeout is smaller than yesterday's $732M, but the pattern has not changed — longs keep getting flushed and fear keeps deepening instead of bouncing. That kind of washout is usually where bottoms start forming, but with ETF outflows now on a 5-day streak and a December Fed hike looking more likely, I am not calling the bottom yet.
Is this fear the bottom, or is there more downside first?
No buy/sell call, just the market. Not financial advice.
#Bitcoin #Ethereum #Crypto
The Fear & Greed Index slipped to 28, still Fear, down from 29 yesterday and 50 last week. That is the 7th straight day the market has sat in Fear. $BTC is around $72,775 and $ETH near $2,016, and traders are still not rushing back in.
My take: the wipeout is smaller than yesterday's $732M, but the pattern has not changed — longs keep getting flushed and fear keeps deepening instead of bouncing. That kind of washout is usually where bottoms start forming, but with ETF outflows now on a 5-day streak and a December Fed hike looking more likely, I am not calling the bottom yet.
Is this fear the bottom, or is there more downside first?
No buy/sell call, just the market. Not financial advice.
#Bitcoin #Ethereum #Crypto
