The dump is not equal today.
24h on Binance: $BTC -6.7% to about $68,760, BNB -6.5%, ETH -5.5%, SOL -3.5%, while $XRP is only -1.4% near $1.03 after wicking to $0.9975 and bouncing.
So most of the selling is in Bitcoin itself. The futures picture fits: BTC open interest on Binance climbed to about 101K BTC on Nov 12, the highest of the past week, and roughly 77% of BTC futures accounts are still long. Funding is near flat. Fear & Greed sits at 20.
My view into Sunday: crowded longs usually get flushed before a real bottom, so I expect chop under $70,000 for now. If alts keep holding while BTC bleeds, that hints this is BTC deleveraging rather than everyone leaving. If XRP also closes a day under $1.00 then that idea is wrong and it is broad risk-off.
#CryptoMarket #FearAndGreed #Bitcoin #XRP
Not financial advice.
24h on Binance: $BTC -6.7% to about $68,760, BNB -6.5%, ETH -5.5%, SOL -3.5%, while $XRP is only -1.4% near $1.03 after wicking to $0.9975 and bouncing.
So most of the selling is in Bitcoin itself. The futures picture fits: BTC open interest on Binance climbed to about 101K BTC on Nov 12, the highest of the past week, and roughly 77% of BTC futures accounts are still long. Funding is near flat. Fear & Greed sits at 20.
My view into Sunday: crowded longs usually get flushed before a real bottom, so I expect chop under $70,000 for now. If alts keep holding while BTC bleeds, that hints this is BTC deleveraging rather than everyone leaving. If XRP also closes a day under $1.00 then that idea is wrong and it is broad risk-off.
#CryptoMarket #FearAndGreed #Bitcoin #XRP
Not financial advice.
