Tom Lee named the 3 things he thinks broke this market — and the same day, a bottom signal flashed that has only fired twice before in this bear market.
$BTC $64,516 now (Finnhub, 17:56 UTC), after tagging $62,006 this morning — lowest since July. Lee blames AI stock losses, cash raised for Anthropic's IPO, and conversions after the Binance hack. His guess, not proof — but it fits: $1.9B liquidated in a day, ETFs out $185M Friday, a 7th straight outflow day.
My read: leaning cautious. MVRV under 1.2 is a real clue, but clues aren't floors. Tonight's weekly close decides the 6th straight red week, and $67,850 — the 200-week line — is what a real repair must reclaim.
If $62,006 breaks, $60,000 then $58,000. If $65,000 holds into the close, the panic at least pauses. Fear is 10, third day of Extreme Fear — I've seen bottoms form in exactly this mood, and I've seen them fail too.
Your call: buyer near $62,000 on the MVRV flash, or waiting for $67,850 first? $BTC $62,006 is the line that decides it.
Not financial advice. DYOR.
#BTC #CryptoNews #MarketCrash
$BTC $64,516 now (Finnhub, 17:56 UTC), after tagging $62,006 this morning — lowest since July. Lee blames AI stock losses, cash raised for Anthropic's IPO, and conversions after the Binance hack. His guess, not proof — but it fits: $1.9B liquidated in a day, ETFs out $185M Friday, a 7th straight outflow day.
My read: leaning cautious. MVRV under 1.2 is a real clue, but clues aren't floors. Tonight's weekly close decides the 6th straight red week, and $67,850 — the 200-week line — is what a real repair must reclaim.
If $62,006 breaks, $60,000 then $58,000. If $65,000 holds into the close, the panic at least pauses. Fear is 10, third day of Extreme Fear — I've seen bottoms form in exactly this mood, and I've seen them fail too.
Your call: buyer near $62,000 on the MVRV flash, or waiting for $67,850 first? $BTC $62,006 is the line that decides it.
Not financial advice. DYOR.
#BTC #CryptoNews #MarketCrash
