The most heavily guarded zone in the world gave way. And the market is feeling it. ๐ด
๐ WHAT HAPPENED IN REAL TIME:
Bitcoin fell to an intraday low of $58,188 on June 25 before recovering toward $59,200 โ breaking through the MA200W near $61,000 with force ๐ฅ Crypto News
Over 217,700 traders were liquidated in 24 hours, with total losses of approximately $1,480 million โ of which $1.210 billion were from long positions ๐จ Crypto News
๐ฅ WHAT TRIGGERED THIS?
The trigger was the PCE report on June 25 โ the Fedโs preferred inflation measure โ which came in hotter than expected, increasing the likelihood of more rate hikes QuickNode
In 27 minutes after the market opened, the Nasdaq fell by 1,000 points and the S&P 500 erased $1 billion in market cap. Crypto followed immediately โ BTC fell 5% in 30 minutes ๐ QuickNode
โ๏ธ THE PRECEDENT EVERYONE FEARS:
โ 2015 โ broke MA200W โ rebounded โ new ATHโจโ 2018 โ broke MA200W โ rebounded โ new ATHโจโ 2020 โ touched MA200W โ rebounded โ new ATHโจ๐ด 2022 โ broke MA200W โ 16 months down before recovering
๐ THE LEVELS THAT MATTER RIGHT NOW:
Critical support at $59,000 โ losing it paves the way to the $55,000-$57,000 zone BingX
Polymarket assigns a 66% probability that BTC will fall below $50,000, and a 46% probability that it will fall below $45,000 โ ๏ธ Crypto News
๐ก THE TWO VOICES DIVIDING THE MARKET TODAY:
๐ข Daan Crypto says he is still accumulating in the $60,000 zone โ "the weekly MA200 historically offers attractive value" Crypto News
๐ด Lennaert Snyder has already closed his shorts and is looking at $55,000 as the next reaction point โ "even $40,000 seems fine" Crypto News
History says that every time BTC broke this level... it eventually recovered and made new highs.
But the path to get there wasnโt straight, or short. โณ
Are you buying this drop or waiting for $55,000? ๐
#bitcoin #BTC #MA200W #CryptoMercado #liquidaciones $BTC
