Bitcoin Crashes Below $69K
BTC/USDT chart recording highlighting the breakdown below $69,000, the lost psychological support, and the $67,568 intraday low
Key Macro & Technical Breakdown:
1. Support Breakdown: Bitcoin plunged below $69,000 on Binance, reaching an intraday low of $67,568 as selling spread across the market.
2. Liquidation Cascade: Over $1.4 billion in leveraged positions were wiped out over the past 24 hours as margin calls amplified spot sell pressure.
3. Macro Headwinds: October’s U.S. CPI came in hotter than expected, pushing the 10-year Treasury yield above 5% and the Dollar Index over 103, making dollar-priced assets less attractive.
4. Institutional Headwinds: U.S. Spot Bitcoin ETFs notched five straight days of net outflows ($1.44B total) while MSCI confirmed the removal of major BTC holder Strategy (MSTR) from global equity indexes, weighing on the adoption narrative.
5. Levels to Watch: Bulls must hold $67,568, while reclaiming $70,500 is mandatory to slow immediate downside momentum.
Are you buying this extreme liquidation wick or waiting on the sidelines?
Share your view below 👇
Disclaimer: Not financial advice. Always Do Your Own Research.
#bitcoin #cryptonews #bitcointrading
$BTC
$ETH
BTC/USDT chart recording highlighting the breakdown below $69,000, the lost psychological support, and the $67,568 intraday low
Key Macro & Technical Breakdown:
1. Support Breakdown: Bitcoin plunged below $69,000 on Binance, reaching an intraday low of $67,568 as selling spread across the market.
2. Liquidation Cascade: Over $1.4 billion in leveraged positions were wiped out over the past 24 hours as margin calls amplified spot sell pressure.
3. Macro Headwinds: October’s U.S. CPI came in hotter than expected, pushing the 10-year Treasury yield above 5% and the Dollar Index over 103, making dollar-priced assets less attractive.
4. Institutional Headwinds: U.S. Spot Bitcoin ETFs notched five straight days of net outflows ($1.44B total) while MSCI confirmed the removal of major BTC holder Strategy (MSTR) from global equity indexes, weighing on the adoption narrative.
5. Levels to Watch: Bulls must hold $67,568, while reclaiming $70,500 is mandatory to slow immediate downside momentum.
Are you buying this extreme liquidation wick or waiting on the sidelines?
Share your view below 👇
Disclaimer: Not financial advice. Always Do Your Own Research.
#bitcoin #cryptonews #bitcointrading
$BTC
$ETH