BTC breaks below 70K, ETH loses 2,000—is this a panic bottom or a continuation of the decline? 🤔
The short answer:
With 70K broken, market sentiment has reached “extreme fear,” but leverage hasn’t been completely flushed out yet, so I’m not rushing to buy the dip.
📉 Three midday market figures:
1️⃣ $BTC hit a low of 68.5K, down about 7% in 24 hours and the lowest since mid-August; it’s down about 16% over 30 days.
2️⃣ $ETH fell to around 1,920, losing the key 2,000 level; $BNB also fell about 6.5%.
3️⃣ The Fear & Greed Index is at 20 (extreme fear), but BTC futures funding rates are still positive (around 0.005%), which means some traders are still adding long positions on the dip.
My take:
▪️ 70K has turned from support into resistance. Until BTC gets back above it, I’ll treat any bounce as just a bounce.
▪️ Below that, I’m watching the 66K–64K area (the August lows), which looks like a more substantial support zone.
▪️ Tonight’s 21:30 PPI is the next volatility trigger. If the data comes in hot, another sharp drop can’t be ruled out.
My plan: No leverage. I’ll split my spot buys into three batches, with the first one near 66K.
Which camp are you in? Comment with a letter 👇
A｜Already buying the dip
B｜Waiting to buy around 64K–66K
C｜Sitting on the sidelines until the PPI data comes out
#BTC #以太坊 #PPI #CryptoMarket
The short answer:
With 70K broken, market sentiment has reached “extreme fear,” but leverage hasn’t been completely flushed out yet, so I’m not rushing to buy the dip.
📉 Three midday market figures:
1️⃣ $BTC hit a low of 68.5K, down about 7% in 24 hours and the lowest since mid-August; it’s down about 16% over 30 days.
2️⃣ $ETH fell to around 1,920, losing the key 2,000 level; $BNB also fell about 6.5%.
3️⃣ The Fear & Greed Index is at 20 (extreme fear), but BTC futures funding rates are still positive (around 0.005%), which means some traders are still adding long positions on the dip.
My take:
▪️ 70K has turned from support into resistance. Until BTC gets back above it, I’ll treat any bounce as just a bounce.
▪️ Below that, I’m watching the 66K–64K area (the August lows), which looks like a more substantial support zone.
▪️ Tonight’s 21:30 PPI is the next volatility trigger. If the data comes in hot, another sharp drop can’t be ruled out.
My plan: No leverage. I’ll split my spot buys into three batches, with the first one near 66K.
Which camp are you in? Comment with a letter 👇
A｜Already buying the dip
B｜Waiting to buy around 64K–66K
C｜Sitting on the sidelines until the PPI data comes out
#BTC #以太坊 #PPI #CryptoMarket