BTC broke $72,000 — lowest since mid-August.
Nvidia CEO Jensen Huang resigned effective immediately. Nvidia shares fell about 13% at the open, wiping roughly $1.1T of market value since Oct 30. The AI-stock shock spilled into crypto: $656M+ liquidated in 24h, over $555M of it longs (CoinGlass).
BTC snapshot (Binance, ~20:50 PKT 12 Nov): $71,407, -3.4% in 24h, range $71,255-$74,811, volume $1.19B. ETH briefly slipped under $2,000 (low $1,984). Strategy shares fell ~7% at the open after the MSCI exit confirmation.
Technicals: 11 Nov close $74,015 held SMA200 ($73,137). Today price sits ~$1,730 BELOW that line — but this is still intraday. The daily close at 05:00 PKT decides, not the wick (see my earlier post today). RSI 31.1, 7d -8.1%.
What options traders expect (Deribit, Fri 13 Nov expiry, index $71,322, IV ~45%):
- BTC above $72,000 by expiry: ~31%
- BTC above $73,000 (SMA200): ~11%
- BTC above $70,000: ~83%
History agrees there is no bounce edge: after 3%+ down days, BTC hit +5% first only 33% of the time (N=52, 1,000 candles).
Plan: stand aside. Long only on a daily close back above SMA200 $73,137. Stop below $70,000. Targets $73,137 then $74,888. A daily close under $70,000 means the slide is not done. Tiny size, spot only. Not a guarantee.
$BTC
#BTC #Bitcoin #Crypto
Nvidia CEO Jensen Huang resigned effective immediately. Nvidia shares fell about 13% at the open, wiping roughly $1.1T of market value since Oct 30. The AI-stock shock spilled into crypto: $656M+ liquidated in 24h, over $555M of it longs (CoinGlass).
BTC snapshot (Binance, ~20:50 PKT 12 Nov): $71,407, -3.4% in 24h, range $71,255-$74,811, volume $1.19B. ETH briefly slipped under $2,000 (low $1,984). Strategy shares fell ~7% at the open after the MSCI exit confirmation.
Technicals: 11 Nov close $74,015 held SMA200 ($73,137). Today price sits ~$1,730 BELOW that line — but this is still intraday. The daily close at 05:00 PKT decides, not the wick (see my earlier post today). RSI 31.1, 7d -8.1%.
What options traders expect (Deribit, Fri 13 Nov expiry, index $71,322, IV ~45%):
- BTC above $72,000 by expiry: ~31%
- BTC above $73,000 (SMA200): ~11%
- BTC above $70,000: ~83%
History agrees there is no bounce edge: after 3%+ down days, BTC hit +5% first only 33% of the time (N=52, 1,000 candles).
Plan: stand aside. Long only on a daily close back above SMA200 $73,137. Stop below $70,000. Targets $73,137 then $74,888. A daily close under $70,000 means the slide is not done. Tiny size, spot only. Not a guarantee.
$BTC
#BTC #Bitcoin #Crypto