$BTC just slipped under $80,000 and the leverage got flushed fast.
As I write this, Bitcoin is around $79,700 (-2.2% in 24h), $ETH is near $2,312 (-3.6%) and $SOL is back under $100 (-4.7%). Trackers on X reported roughly $200M-$260M in long positions liquidated within a single hour, triggered by headlines about rising US-Iran tension.
Two things stand out to me:
1. Supply was already heading to exchanges. Cointelegraph data shared on X showed about 32,380 BTC (~$2.6B) moving onto exchanges in one day, the largest inflow since April. Coins on exchanges are usually coins someone is ready to sell.
2. $80K was a level many traders treated as a floor since mid-September. When a widely watched floor breaks on a weekend with thin liquidity, stops and liquidations do the rest.
My view: this looks more like a leverage reset than a broken trend, but I want confirmation, not hope. I'm watching whether BTC can reclaim $80K on a daily close before the Fed meeting on Oct 27-28. If it can't, the mid-$70Ks become the next test. Some traders note daily RSI near 40, which has marked dips before, but RSI alone isn't a buy signal.
Size small, avoid high leverage on weekend headlines.
Do you think $80K gets reclaimed this week?
#Bitcoin #CryptoMarket #Liquidations #幣安神算子
Not financial advice.
As I write this, Bitcoin is around $79,700 (-2.2% in 24h), $ETH is near $2,312 (-3.6%) and $SOL is back under $100 (-4.7%). Trackers on X reported roughly $200M-$260M in long positions liquidated within a single hour, triggered by headlines about rising US-Iran tension.
Two things stand out to me:
1. Supply was already heading to exchanges. Cointelegraph data shared on X showed about 32,380 BTC (~$2.6B) moving onto exchanges in one day, the largest inflow since April. Coins on exchanges are usually coins someone is ready to sell.
2. $80K was a level many traders treated as a floor since mid-September. When a widely watched floor breaks on a weekend with thin liquidity, stops and liquidations do the rest.
My view: this looks more like a leverage reset than a broken trend, but I want confirmation, not hope. I'm watching whether BTC can reclaim $80K on a daily close before the Fed meeting on Oct 27-28. If it can't, the mid-$70Ks become the next test. Some traders note daily RSI near 40, which has marked dips before, but RSI alone isn't a buy signal.
Size small, avoid high leverage on weekend headlines.
Do you think $80K gets reclaimed this week?
#Bitcoin #CryptoMarket #Liquidations #幣安神算子
Not financial advice.