$BTC down to 75,200 by Friday. Above 78,900 I'm wrong.
Binance published Recovery Update #5 last night: the ZK proof for its October 31 proof-of-reserves snapshot is done, so holders of BTC, ETH, USDT, BNB, SOL and USDC can check their own balances at 1:1. That's solvency verified, not demand. BTC is still down 1.12% in 24h at 76,985, and 472 of the 557 USDT perps with over 1M USD volume are red, median -3.56%. Perp open interest sits at $7.60B, flat in 24h, with 70% of accounts long and funding at just 0.01% per 8h. Crowded longs that pay nothing to wait are the first fuel. Which comes first, 75,200 or 78,900?
Binance published Recovery Update #5 last night: the ZK proof for its October 31 proof-of-reserves snapshot is done, so holders of BTC, ETH, USDT, BNB, SOL and USDC can check their own balances at 1:1. That's solvency verified, not demand. BTC is still down 1.12% in 24h at 76,985, and 472 of the 557 USDT perps with over 1M USD volume are red, median -3.56%. Perp open interest sits at $7.60B, flat in 24h, with 70% of accounts long and funding at just 0.01% per 8h. Crowded longs that pay nothing to wait are the first fuel. Which comes first, 75,200 or 78,900?