$BTC just hit $67.4K — its lowest since August — and the damage is brutal.
$1.47 billion liquidated in 24 hours. $1.31 billion of that was longs. Over 175,000 traders gone.
What broke it:
$BTC lost $72K in the US session, then snapped $70K overnight in Asia. That set off cascading forced selling.
Why it's crashing:
Traders now expect the Fed to HIKE in December — some fear 50 basis points instead of 25. The dollar is at its strongest since April 2025. The 10-year Treasury yield is above 5%. Nvidia's CEO Jensen Huang resigned amid an internal investigation, slamming tech and risk assets. And BlackRock's Bitcoin ETF has bled over $2 billion across nine straight days of outflows.
Fear and Greed index: 20. Extreme Fear.
$BTC is now 11% below MicroStrategy's $75.4K cost basis. And it's slipped below the 200-week moving average — a level that's held as a floor in past bear markets.
The levels:
$70K is now resistance. $66.9K is today's low. Lose that and $60K comes into play.
Panic or opportunity? 👀
$1.47 billion liquidated in 24 hours. $1.31 billion of that was longs. Over 175,000 traders gone.
What broke it:
$BTC lost $72K in the US session, then snapped $70K overnight in Asia. That set off cascading forced selling.
Why it's crashing:
Traders now expect the Fed to HIKE in December — some fear 50 basis points instead of 25. The dollar is at its strongest since April 2025. The 10-year Treasury yield is above 5%. Nvidia's CEO Jensen Huang resigned amid an internal investigation, slamming tech and risk assets. And BlackRock's Bitcoin ETF has bled over $2 billion across nine straight days of outflows.
Fear and Greed index: 20. Extreme Fear.
$BTC is now 11% below MicroStrategy's $75.4K cost basis. And it's slipped below the 200-week moving average — a level that's held as a floor in past bear markets.
The levels:
$70K is now resistance. $66.9K is today's low. Lose that and $60K comes into play.
Panic or opportunity? 👀