A big shock in the market last night! $BTC It fell 8% in one day to $62,801, after briefly reaching $62,006 — its lowest level since mid-August. $ETH also fell 10% to $1,727.
According to CoinGlass data, $1.9 billion in liquidations occurred over the past 24 hours, 93% of them from long positions. $2.35 billion flowed out of US spot Bitcoin ETFs in two weeks (LoopWire), with outflows from BlackRock’s IBIT for 11 consecutive days. The Fear & Greed Index is now at 13 — extreme fear.
My take: This is a wave of forced liquidations of leveraged longs, with the market at peak fear. The $62,006 support needs to hold; otherwise, all eyes will be on $60,000.
What do you think — will we bounce from here or go lower?
Not a buy or sell recommendation, just market news. This is not financial advice.
$BTC $ETH
#Bitcoin #Ethereum #Crypto
According to CoinGlass data, $1.9 billion in liquidations occurred over the past 24 hours, 93% of them from long positions. $2.35 billion flowed out of US spot Bitcoin ETFs in two weeks (LoopWire), with outflows from BlackRock’s IBIT for 11 consecutive days. The Fear & Greed Index is now at 13 — extreme fear.
My take: This is a wave of forced liquidations of leveraged longs, with the market at peak fear. The $62,006 support needs to hold; otherwise, all eyes will be on $60,000.
What do you think — will we bounce from here or go lower?
Not a buy or sell recommendation, just market news. This is not financial advice.
$BTC $ETH
#Bitcoin #Ethereum #Crypto
