$BTC slipped back under $80,000. The Fed wasn't the surprise. Leverage was.
The Fed's Oct 28 hold was almost fully priced in. Even so, the decision window flushed about $167M in crypto liquidations, and roughly $110M of that was shorts caught by the bounce back above $81K (Coinglass data, via Bitcoin.com).
Hours later the trade flipped. With tech stocks weaker, BTC dropped below $80K and ETH briefly slipped under $2,300, pushing 24h liquidations to around $335M.
My take: when a no-surprise Fed day squeezes both sides, positioning was crowded. The macro picture barely moved. The hawkish tone matters for December, but this week's moves were mostly leverage getting cleared out.
Levels I'm watching: $79.3K, then an estimated cluster of long liquidations near $78.5K below. Above, $81.6K–$82K has capped every bounce lately. Until one of those breaks, I'd rather keep size small than chase either direction.
#Bitcoin #Fed #Liquidations
Not financial advice.
The Fed's Oct 28 hold was almost fully priced in. Even so, the decision window flushed about $167M in crypto liquidations, and roughly $110M of that was shorts caught by the bounce back above $81K (Coinglass data, via Bitcoin.com).
Hours later the trade flipped. With tech stocks weaker, BTC dropped below $80K and ETH briefly slipped under $2,300, pushing 24h liquidations to around $335M.
My take: when a no-surprise Fed day squeezes both sides, positioning was crowded. The macro picture barely moved. The hawkish tone matters for December, but this week's moves were mostly leverage getting cleared out.
Levels I'm watching: $79.3K, then an estimated cluster of long liquidations near $78.5K below. Above, $81.6K–$82K has capped every bounce lately. Until one of those breaks, I'd rather keep size small than chase either direction.
#Bitcoin #Fed #Liquidations
Not financial advice.
