Wicked down to 81,000—the bulls liquidated themselves
🔻 A quick look at the order book
Bitcoin wicked down to 81,062 in the early hours, while Ethereum simultaneously plunged through 2,412, then both recovered above 82,000/2,450. It looked scary, but this wasn’t a bear attack—the bulls cut their own positions ahead of CPI. Liquidations across the market topped $670 million in 24 hours, with longs making up over 86%. When BTC broke below 82,000, several million dollars’ worth of long positions were liquidated in a single trade. ETH longs also accounted for over 86% of liquidations. The drop came from leveraged positions being flushed out, not from a genuine collapse in holdings.
🔻 Why is everything so weak today?
Three forces are squeezing the market at once: Brent crude is holding at 106.65 and hit 107.25 intraday (Middle East supply risks); 10-year US Treasury yields are elevated at 5.24%; and Fed official Hammack signaled that more rate hikes are coming. The US Dollar Index hit an 18-month high of 102.58. Add last week’s $681 million in outflows from BTC ETFs and continued outflows from ETH ETFs, and institutional buyers aren’t stepping in. The market is waiting for the US September CPI report tomorrow at 20:30. Investors would rather cut exposure early than wait for the data and get caught off guard. Tom Lee says $1.5–2 trillion in generational wealth transfers will flow into crypto—that’s a long-term story, and it can’t save short-term leveraged positions today.
🔻 A couple of thoughts
I’m not turning bearish on the long term as long as 80,000 holds. But this short-term wick shows that bulls are afraid CPI will deliver a nasty surprise—and anyone brave enough to add leverage got shaken out. Bitcoin looks weak unless it can reclaim 83,500; don’t talk about a reversal for Ethereum unless it can hold above 2,500. I’m not buying the dip at midday. I’ll wait until after tomorrow evening’s CPI release and see whether ETF flows turn positive again. Keeping some room in your position is better than pretending you can predict the direction.
Bulls who got wicked out—did you get shaken out, sit it out, or play dead? 👇
BTC #ETH
🔻 A quick look at the order book
Bitcoin wicked down to 81,062 in the early hours, while Ethereum simultaneously plunged through 2,412, then both recovered above 82,000/2,450. It looked scary, but this wasn’t a bear attack—the bulls cut their own positions ahead of CPI. Liquidations across the market topped $670 million in 24 hours, with longs making up over 86%. When BTC broke below 82,000, several million dollars’ worth of long positions were liquidated in a single trade. ETH longs also accounted for over 86% of liquidations. The drop came from leveraged positions being flushed out, not from a genuine collapse in holdings.
🔻 Why is everything so weak today?
Three forces are squeezing the market at once: Brent crude is holding at 106.65 and hit 107.25 intraday (Middle East supply risks); 10-year US Treasury yields are elevated at 5.24%; and Fed official Hammack signaled that more rate hikes are coming. The US Dollar Index hit an 18-month high of 102.58. Add last week’s $681 million in outflows from BTC ETFs and continued outflows from ETH ETFs, and institutional buyers aren’t stepping in. The market is waiting for the US September CPI report tomorrow at 20:30. Investors would rather cut exposure early than wait for the data and get caught off guard. Tom Lee says $1.5–2 trillion in generational wealth transfers will flow into crypto—that’s a long-term story, and it can’t save short-term leveraged positions today.
🔻 A couple of thoughts
I’m not turning bearish on the long term as long as 80,000 holds. But this short-term wick shows that bulls are afraid CPI will deliver a nasty surprise—and anyone brave enough to add leverage got shaken out. Bitcoin looks weak unless it can reclaim 83,500; don’t talk about a reversal for Ethereum unless it can hold above 2,500. I’m not buying the dip at midday. I’ll wait until after tomorrow evening’s CPI release and see whether ETF flows turn positive again. Keeping some room in your position is better than pretending you can predict the direction.
Bulls who got wicked out—did you get shaken out, sit it out, or play dead? 👇
BTC #ETH