THE DROP BELOW THE 200-WEEK MOVING AVERAGE IS A WARNING SIGNAL FOR THE ENTIRE MARKET
જ⁀➴
Bitcoin has lost one of its most important historical trend lines, falling into the $67,650 range. The macroeconomic backdrop is a perfect storm, and the bulls are trapped.
The dollar has surged above 103, the 10-year Treasury yield has climbed to 5.125%, and the possibility of a 50-basis-point Fed rate hike in December is spooking investors.
The result: carnage, with more than $1.3 billion in liquidations in a single day. BTC long positions were crushed, totaling $677 million.
Liquidity is evaporating. The stablecoin supply has fallen by $14.2 billion in 30 days, and CryptoQuant’s Bull Score Index is at zero, showing that spot demand is virtually nonexistent.
There are buy orders between $68,000 and $72,500, but the market is at the mercy of macroeconomic forces. What will your next move be?
Follow the page and turn on notifications. Don’t fall behind. Whatever the next update is, I’ll post it here first.
#bitcoinbreaksbelow200weekmovingaverage
$AKE
$SHELL
$BTC
જ⁀➴
Bitcoin has lost one of its most important historical trend lines, falling into the $67,650 range. The macroeconomic backdrop is a perfect storm, and the bulls are trapped.
The dollar has surged above 103, the 10-year Treasury yield has climbed to 5.125%, and the possibility of a 50-basis-point Fed rate hike in December is spooking investors.
The result: carnage, with more than $1.3 billion in liquidations in a single day. BTC long positions were crushed, totaling $677 million.
Liquidity is evaporating. The stablecoin supply has fallen by $14.2 billion in 30 days, and CryptoQuant’s Bull Score Index is at zero, showing that spot demand is virtually nonexistent.
There are buy orders between $68,000 and $72,500, but the market is at the mercy of macroeconomic forces. What will your next move be?
Follow the page and turn on notifications. Don’t fall behind. Whatever the next update is, I’ll post it here first.
#bitcoinbreaksbelow200weekmovingaverage
$AKE
$SHELL
$BTC
