Bitcoin gave back Monday. Down 0.7% to $85,977 after hot US manufacturing data reminded everyone the Fed still exists.
Here's the part that interests me. Stocks ripped to record highs on the same tape. Nasdaq closed at an all-time high. And crypto? Faded. $190M in liquidations in 24 hours, $114M of it longs.
That's the tell. This wasn't conviction selling. It was leverage getting cleaned out on a macro headline.
Van de Poppe's line is doing the rounds: flip $85k and the next target is $90k. And Puell Multiple just hit an 11-month high, out of the accumulation zone. Miners are fine. The supply side isn't under stress.
So the market just shook the weak longs and held the trigger level. Which gives first: $90k, or another wipeout before the move?
$BTC $ETH
Here's the part that interests me. Stocks ripped to record highs on the same tape. Nasdaq closed at an all-time high. And crypto? Faded. $190M in liquidations in 24 hours, $114M of it longs.
That's the tell. This wasn't conviction selling. It was leverage getting cleaned out on a macro headline.
Van de Poppe's line is doing the rounds: flip $85k and the next target is $90k. And Puell Multiple just hit an 11-month high, out of the accumulation zone. Miners are fine. The supply side isn't under stress.
So the market just shook the weak longs and held the trigger level. Which gives first: $90k, or another wipeout before the move?
$BTC $ETH
