Dip buyers were the first to get carried out.
Over the past 24 hours, $1.26 billion in crypto positions were liquidated across the market, 86% of them longs—those who rushed to buy the dip were the first to get wiped out. BTC is currently at $65,938, down 4.16% in 24 hours. Binance hit an intraday low of $65,000, its lowest since August. ETH is at $1,838, down 5.11%, and SOL is down 9.01%. The Fear and Greed Index is at 13, indicating extreme fear, down from 28 two days ago. The daily RSI is nearing 25.
Fear has reached an extreme, but an extreme reading alone doesn’t mean the bottom is in. ETFs saw another $185 million in outflows on Friday, marking seven consecutive trading days of outflows. Money is still flowing out.
Nvidia reports earnings next Tuesday, and the Fed releases its meeting minutes on Wednesday. First, watch to see whether $65,000 holds. $BTC $ETH
This is not investment advice.
Over the past 24 hours, $1.26 billion in crypto positions were liquidated across the market, 86% of them longs—those who rushed to buy the dip were the first to get wiped out. BTC is currently at $65,938, down 4.16% in 24 hours. Binance hit an intraday low of $65,000, its lowest since August. ETH is at $1,838, down 5.11%, and SOL is down 9.01%. The Fear and Greed Index is at 13, indicating extreme fear, down from 28 two days ago. The daily RSI is nearing 25.
Fear has reached an extreme, but an extreme reading alone doesn’t mean the bottom is in. ETFs saw another $185 million in outflows on Friday, marking seven consecutive trading days of outflows. Money is still flowing out.
Nvidia reports earnings next Tuesday, and the Fed releases its meeting minutes on Wednesday. First, watch to see whether $65,000 holds. $BTC $ETH
This is not investment advice.
