🚨 BREAKING: $BTC just touched $62,000, its lowest level in 4 months
This morning, $BTC broke below $62,000, wiping out all the gains of the past few months. $ETH hit a low of $1,711, $SOL and many altcoins fell by double digits.
$2.02 billion in positions were liquidated in 24 hours, 86.7% of them long positions, and 318,349 traders had their accounts wiped out.
Strange thing: selling pressure was concentrated entirely on Coinbase, with the sell-off happening when weekend liquidity was at its thinnest. Veteran traders called this the most aggressive sell-off they had ever seen.
Money is also fleeing: $17 billion in stablecoins flowed out of the market over 1 month, the largest outflow since the 2022 bear market.
The danger isn't over: right below is a massive long liquidation cluster at $59,500–$62,600. If BTC slips one more notch, the dominoes will fall one after another.
Save this—there will be plenty more volatility tonight. Follow me; I post here first.
#Bitcoin #Crypto
This morning, $BTC broke below $62,000, wiping out all the gains of the past few months. $ETH hit a low of $1,711, $SOL and many altcoins fell by double digits.
$2.02 billion in positions were liquidated in 24 hours, 86.7% of them long positions, and 318,349 traders had their accounts wiped out.
Strange thing: selling pressure was concentrated entirely on Coinbase, with the sell-off happening when weekend liquidity was at its thinnest. Veteran traders called this the most aggressive sell-off they had ever seen.
Money is also fleeing: $17 billion in stablecoins flowed out of the market over 1 month, the largest outflow since the 2022 bear market.
The danger isn't over: right below is a massive long liquidation cluster at $59,500–$62,600. If BTC slips one more notch, the dominoes will fall one after another.
Save this—there will be plenty more volatility tonight. Follow me; I post here first.
#Bitcoin #Crypto
