Introduction:
Bitcoin closed at $81,983 today after touching $83,000. The market saw over $2 billion in liquidations. Is this the bottom?
1. The $81k Buy Wall
Glassnode data shows a huge buy wall at $81,000. If $BTC holds this, next target is $94k. If it breaks, we could see $78k.
2. ETF Outflows Are Slowing
US Spot ETFs lost $228.4M last week, but that's 66% less than before. This means selling pressure is getting weak. Good sign for $BTC and $ETH.
3. Liquidation Heat
$1.11B in BTC longs got liquidated. When too many longs get wiped, market usually bounces.
Conclusion:
I am not selling here. I am doing DCA in $BTC and $ETH . This fear is temporary.
What is your plan?