Breaking: $BTC just lost $70,000 — and this is not a small dip.
Bitcoin is trading around $68,300, down 4.4% in 24 hours, after dipping to $67,568. $ETH is down with it, around $1,930, also down 4.4%, and back below $2,000. Over $856M in positions got liquidated in the last day, and about 90% of them were longs. The Fear & Greed Index is sitting at 20, deep in Extreme Fear.
Here is the strange part: the US October PPI came in softer than expected, the kind of number that normally helps risk assets. Instead the 10-year yield went up, stocks slipped too, and crypto sold off with them. This was not one bad headline, it was the whole market losing its nerve at once.
My take: $70K was the line everyone was watching, and it broke on the first real test. Now $67,568 is the line to watch. If that holds, this can still be a washout. If it goes, the next leg down gets real fast.
Source: Cointelegraph, The Currency Analytics and KuCoin News.
Do you think $67,568 holds, or are we going lower?
No buy/sell call, just the market. Not financial advice.
#Bitcoin #Ethereum #Crypto
Bitcoin is trading around $68,300, down 4.4% in 24 hours, after dipping to $67,568. $ETH is down with it, around $1,930, also down 4.4%, and back below $2,000. Over $856M in positions got liquidated in the last day, and about 90% of them were longs. The Fear & Greed Index is sitting at 20, deep in Extreme Fear.
Here is the strange part: the US October PPI came in softer than expected, the kind of number that normally helps risk assets. Instead the 10-year yield went up, stocks slipped too, and crypto sold off with them. This was not one bad headline, it was the whole market losing its nerve at once.
My take: $70K was the line everyone was watching, and it broke on the first real test. Now $67,568 is the line to watch. If that holds, this can still be a washout. If it goes, the next leg down gets real fast.
Source: Cointelegraph, The Currency Analytics and KuCoin News.
Do you think $67,568 holds, or are we going lower?
No buy/sell call, just the market. Not financial advice.
#Bitcoin #Ethereum #Crypto
