Guys!! The $70K level didn’t wait until tonight—it broke before noon!!!
I was just saying, “Will we take another shot at $70K tonight?” And then this move smashed right through it～CoinDesk spotted that Bitcoin is now at its lowest level since August 19. On Binance futures, the 24-hour low dipped to around $68,500.
I just checked CoinGecko: Bitcoin is around $68,800, down about 6.7% in 24 hours; ETH is around $1,932, sliding further below $2,000, with a Binance low of around $1,917. BNB is around $633, SOL around $78—below $80 too. XRP was even wilder: it dipped to around $0.9975 intraday on Binance, briefly breaking below a buck haha. Total market cap is around $2.35 trillion, down about 7.9% in a day. The Fear and Greed Index is still at 20: extreme fear～
One bit of context: CoinDesk reported that the US Dollar Index rose above 103, its highest level since April 2025. When the dollar is this strong, risk assets are more likely to get hammered. Once $70K broke, leveraged positions got flushed out all over again— I just checked CoinGlass (data updated to around 11:59 a.m. Shanghai time today): Bitcoin futures alone saw about $737 million in liquidations over the past 24 hours, around 96% of them longs, or roughly $711 million. When I checked a little after 10 this morning, Bitcoin liquidations were only around $420 million—another huge chunk got wiped out in just over an hour!!! A little earlier, CoinDesk also reported that total market liquidations over 24 hours had topped $1.3 billion, with around $500 million liquidated just as Bitcoin fell below $70K.
Seriously, don’t just assume “once $70K breaks, it has to bounce right back”!!! The level has broken, but October’s PPI is still due at 9:30 p.m. Shanghai time tonight. Don’t go piling into leverage before the data comes out～
Do you think we can stabilize around $68,500, or are we going to dip lower first?
$BTC $ETH
#币圈 #Bitcoin
I was just saying, “Will we take another shot at $70K tonight?” And then this move smashed right through it～CoinDesk spotted that Bitcoin is now at its lowest level since August 19. On Binance futures, the 24-hour low dipped to around $68,500.
I just checked CoinGecko: Bitcoin is around $68,800, down about 6.7% in 24 hours; ETH is around $1,932, sliding further below $2,000, with a Binance low of around $1,917. BNB is around $633, SOL around $78—below $80 too. XRP was even wilder: it dipped to around $0.9975 intraday on Binance, briefly breaking below a buck haha. Total market cap is around $2.35 trillion, down about 7.9% in a day. The Fear and Greed Index is still at 20: extreme fear～
One bit of context: CoinDesk reported that the US Dollar Index rose above 103, its highest level since April 2025. When the dollar is this strong, risk assets are more likely to get hammered. Once $70K broke, leveraged positions got flushed out all over again— I just checked CoinGlass (data updated to around 11:59 a.m. Shanghai time today): Bitcoin futures alone saw about $737 million in liquidations over the past 24 hours, around 96% of them longs, or roughly $711 million. When I checked a little after 10 this morning, Bitcoin liquidations were only around $420 million—another huge chunk got wiped out in just over an hour!!! A little earlier, CoinDesk also reported that total market liquidations over 24 hours had topped $1.3 billion, with around $500 million liquidated just as Bitcoin fell below $70K.
Seriously, don’t just assume “once $70K breaks, it has to bounce right back”!!! The level has broken, but October’s PPI is still due at 9:30 p.m. Shanghai time tonight. Don’t go piling into leverage before the data comes out～
Do you think we can stabilize around $68,500, or are we going to dip lower first?
$BTC $ETH
#币圈 #Bitcoin