BTC just fell below $70,000 for the first time since August. The best thing to do right now is manage your position size first; you can wait and see before deciding whether to buy the dip.
Background: Jensen Huang suddenly resigned as NVIDIA CEO, MSCI is set to remove Strategy from its index, U.S. October CPI came in higher than expected, and spot ETFs have seen about $1.44 billion in net outflows over five consecutive days. Liquidations across the crypto market totaled about $680 million in the past 24 hours, nearly 90% of them long positions. The Fear Index has fallen to 20, indicating extreme fear.
Three reminders:
① Reduce leverage on highly leveraged long positions first—don’t try to ride it out;
② Wicks are common near round-number levels, so set stop-losses in advance;
③ The MSCI rebalancing at the end of the month and expectations for a December rate hike have yet to play out, so volatility may not be over.
Are you sitting on the sidelines with no position, or buying in gradually? $BTC
Background: Jensen Huang suddenly resigned as NVIDIA CEO, MSCI is set to remove Strategy from its index, U.S. October CPI came in higher than expected, and spot ETFs have seen about $1.44 billion in net outflows over five consecutive days. Liquidations across the crypto market totaled about $680 million in the past 24 hours, nearly 90% of them long positions. The Fear Index has fallen to 20, indicating extreme fear.
Three reminders:
① Reduce leverage on highly leveraged long positions first—don’t try to ride it out;
② Wicks are common near round-number levels, so set stop-losses in advance;
③ The MSCI rebalancing at the end of the month and expectations for a December rate hike have yet to play out, so volatility may not be over.
Are you sitting on the sidelines with no position, or buying in gradually? $BTC