Wild night for crypto. $BTC flash-crashed to $73,500 in minutes on Sunday night, and over $1B in leveraged positions got wiped out in 24 hours. $ETH actually led the fall, dropping 6.9% in just 5 minutes to $2,060 before bouncing back.
What set it off? CNBC reported on Sunday afternoon that Nvidia's board opened an investigation into CEO Jensen Huang over an affair with a woman US intelligence believes was passing information to Beijing. Huang admitted the affair in a staff email. Stocks wobbled, and crypto took the hit.
This morning $BTC is back around $75,144 and $ETH near $2,129, but the market is still on edge. My take: this was a leverage flush, not a crypto problem. The $73,500 level is the line to watch now.
Do you think $73,500 holds, or are we going lower this week?
No buy/sell call, just the market. Not financial advice.
#Bitcoin #Ethereum #Crypto
What set it off? CNBC reported on Sunday afternoon that Nvidia's board opened an investigation into CEO Jensen Huang over an affair with a woman US intelligence believes was passing information to Beijing. Huang admitted the affair in a staff email. Stocks wobbled, and crypto took the hit.
This morning $BTC is back around $75,144 and $ETH near $2,129, but the market is still on edge. My take: this was a leverage flush, not a crypto problem. The $73,500 level is the line to watch now.
Do you think $73,500 holds, or are we going lower this week?
No buy/sell call, just the market. Not financial advice.
#Bitcoin #Ethereum #Crypto
