#Bitcoin jump back above 80,000 USD was powerful enough to trigger roughly half a billion dollars of forced liquidations, mostly clearing out traders who had bet on further downside. Regulatory signals, easing macro worries and steady ETF inflows provided the spark, but it was the highly leveraged derivatives layer that turned a normal rally into a rapid short squeeze. As long as leverage remains high, similar cascades are likely to recur, making position sizing and awareness of crowding more important than the headline price alone.
-Oman/ Iran negotiations to open Hormuz look promising, bullish if true
-Pro Crypto Clarity Act Bill has 3 days left for a senate vote, needs 7 dems to vote yes
-Friday July Jobs report: if it's too strong it's bearish because it puts pressure on the Fed to raise rates. Weaker would be more bullish for Markets.
Trading is not all about knowledge. Trading is about patience. Trading is about consistency. Trading is about discipline. Trading is about psychology. Trading is about emotional control. and finally, trading is to know when to cut your loss or take your profit.
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If you feel stuck in your trading… It’s usually not because you need more information. It’s because something in your process isn’t working. -- Babar Shahzad Khan ♤