$BTC (Update)
The downside liquidity isn't completed yet. We may see further corrections towards the $71K–$68K range.
Liquidations below price: $1.19B
Liquidations above price: $2.13B
Perpetual selling is increasing, alongside spot selling, supporting the current correction. On top of that, ETF outflows are continuing.
My POV: This looks like a trap to me, although I could be wrong this time.
The entire economy is in the red, and when so much negative news hits the market within such a short period, something feels suspicious.
It looks like market makers want retail investors to sell their bags in fear, sweep the downside liquidity, and then potentially reverse the market.
But there's another risk: December's interest-rate decision. If we see a 50 bps rate hike, the entire market could face another major crash.
What I'm really watching now is liquidity.
If the downside gets swept and price quickly reclaims support, it could create the perfect conditions for a short squeeze.
#BTC Price Analysis# #Macro Insights# #Bitcoin
The downside liquidity isn't completed yet. We may see further corrections towards the $71K–$68K range.
Liquidations below price: $1.19B
Liquidations above price: $2.13B
Perpetual selling is increasing, alongside spot selling, supporting the current correction. On top of that, ETF outflows are continuing.
My POV: This looks like a trap to me, although I could be wrong this time.
The entire economy is in the red, and when so much negative news hits the market within such a short period, something feels suspicious.
It looks like market makers want retail investors to sell their bags in fear, sweep the downside liquidity, and then potentially reverse the market.
But there's another risk: December's interest-rate decision. If we see a 50 bps rate hike, the entire market could face another major crash.
What I'm really watching now is liquidity.
If the downside gets swept and price quickly reclaims support, it could create the perfect conditions for a short squeeze.
#BTC Price Analysis# #Macro Insights# #Bitcoin
