JUST IN: $50,000,000,000 wiped out from Indian stock market in a single day.
Details:
1. PM Narendra Modi urged citizens to conserve fuel, reduce gold purchases, and limit foreign travel amid rising energy pressures linked to the US–Iran conflict and disruptions near the Strait of Hormuz.
2. With India importing ~90% of its crude oil, concerns over supply shocks are mounting, prompting even a possible return of work-from-home policies to cut fuel usage.
3. Markets reacted sharply, signaling growing fears over the economic impact of worsening energy conditions.
-Bitcoin is still struggling to break above the key $83,000 resistance level and continues to face multiple rejections.
-At the same time, the aggregated trading volume across both spot and futures markets on major exchanges still does not fully support this recent pump and recovery.
-This raises the possibility of a potential fakeout that could trigger renewed selling pressure.
-Traders should closely watch developments this week, as markets are heading into a highly volatile period filled with major catalysts, including a Federal Reserve leadership transition, fresh inflation data, liquidity updates, a key crypto regulation vote, and high-level U.S.-China talks. $BTC
BTC has confirmed a structural breakout above the $81,000 resistance level ahead of the U.S. session, indicating a potential shift in short-term market structure.
A sustained hold above $81,000 during the U.S. session increases the probability of a short squeeze scenario, with upside liquidity targets near $84,000.
Failure to maintain this level would invalidate the breakout, exposing BTC to a downside retracement toward the $73,000 support zone.