Anyone who's been around a few cycles is probably grinning at this market. $BTC finally gave up the 70K line and is now hanging around 65–67K, even kissing 65K during the US session. That's six red weeks in a row, and the 200-week average, the line everyone treats as the last fortress, just broke for the first time since August.
The trigger didn't even come from crypto. US inflation printed hotter than expected, the market now fully expects the Fed to hike in December, and the dollar is sitting at a 19-month high. Spot Bitcoin ETFs have bled money six straight days, and liquidations just wiped out 1.26 billion dollars, 86 percent of it longs getting swept. $BNB took an even uglier hit today, down around 7 percent into the 585 area, right after Binance reopened withdrawals on 87 networks following the late-October security incident.
Fear and Greed is down at 13, Extreme Fear, and $BTC's RSI is deep in oversold territory. For the old hands, this is the zone where you queue up slowly instead of panic selling. Same rules as always, size your positions right, never go all in, and let next week's Fed minutes and Nvidia earnings decide the next leg.
The trigger didn't even come from crypto. US inflation printed hotter than expected, the market now fully expects the Fed to hike in December, and the dollar is sitting at a 19-month high. Spot Bitcoin ETFs have bled money six straight days, and liquidations just wiped out 1.26 billion dollars, 86 percent of it longs getting swept. $BNB took an even uglier hit today, down around 7 percent into the 585 area, right after Binance reopened withdrawals on 87 networks following the late-October security incident.
Fear and Greed is down at 13, Extreme Fear, and $BTC's RSI is deep in oversold territory. For the old hands, this is the zone where you queue up slowly instead of panic selling. Same rules as always, size your positions right, never go all in, and let next week's Fed minutes and Nvidia earnings decide the next leg.