$BTC is $77,336.95 as of 11:48 am EDT, with $27.68B in 24h volume. (CoinDesk)
That's about $2,656 below yesterday morning ($80,037), about 7% below a month ago ($83,420), and about 29% below a year ago ($108,322). (Fortune)
Another report says BTC slipped below $80,000 after the Fed held rates and tech shares weakened. That fits the same-day weakness in your #SOXL chart. (robinhood)
What's driving it
The drop was closely tied to the Binance security incident and the liquidations that followed, and a CoinDesk report says the selloff wiped out about $1.5B in leveraged bets. (CoinDesk)
The hacker reportedly split $1.4B of stolen bitcoin across 19 wallets, and Standard Chartered analysts warned of further losses. Treat the hack details as still developing. (CoinDesk)
Levels to watch (my read of the price action in the sources, not confirmed indicator levels)
Support: around $76,000 to $77,000, then $75,000. Prediction markets put only about 10% odds on BTC going below $75,000 in October. (robinhood)
Resistance: $78,500 to $80,000. A reclaim of $80K would ease the bearish bias.
Bias: short-term bearish to neutral. The downtrend is intact, but a leverage flush can end in a sharp bounce.
Possible setups (scenarios, not advice)
Short: a rejection at $78.5K to $80K or a 1h close below $76K, with a stop above the rejection high.
Long: only after a reclaim of $78.5K or more with volume. Stop below $76K, small size
$BTC
That's about $2,656 below yesterday morning ($80,037), about 7% below a month ago ($83,420), and about 29% below a year ago ($108,322). (Fortune)
Another report says BTC slipped below $80,000 after the Fed held rates and tech shares weakened. That fits the same-day weakness in your #SOXL chart. (robinhood)
What's driving it
The drop was closely tied to the Binance security incident and the liquidations that followed, and a CoinDesk report says the selloff wiped out about $1.5B in leveraged bets. (CoinDesk)
The hacker reportedly split $1.4B of stolen bitcoin across 19 wallets, and Standard Chartered analysts warned of further losses. Treat the hack details as still developing. (CoinDesk)
Levels to watch (my read of the price action in the sources, not confirmed indicator levels)
Support: around $76,000 to $77,000, then $75,000. Prediction markets put only about 10% odds on BTC going below $75,000 in October. (robinhood)
Resistance: $78,500 to $80,000. A reclaim of $80K would ease the bearish bias.
Bias: short-term bearish to neutral. The downtrend is intact, but a leverage flush can end in a sharp bounce.
Possible setups (scenarios, not advice)
Short: a rejection at $78.5K to $80K or a 1h close below $76K, with a stop above the rejection high.
Long: only after a reclaim of $78.5K or more with volume. Stop below $76K, small size
$BTC