Rough evening for the market. Jensen Huang stepping down as Nvidia CEO hit risk assets hard, and crypto got dragged along with it.
$BTC slipped under $72,000 on Binance, with a low near $71,255 and about 3% down on the day. Per Watcher Guru, roughly $222M in longs were liquidated in 30 minutes, then another $125M in 20 minutes. $ETH tagged $1,984 before bouncing, and Fear & Greed sits at 28.
My read through Sunday: this looks like a leverage flush tied to stocks, not a crypto-specific problem. A daily close back above $74,000 would tell me the panic is fading. A daily close under $71,000 opens the $69,000 to $70,000 area. I lean cautious until one of those happens, and I'm wrong on that lean if $74,000 is reclaimed quickly.
Lower leverage on days like this.
#Bitcoin #CryptoMarket #Nvidia
#MarketUpdate
NFA
$BTC slipped under $72,000 on Binance, with a low near $71,255 and about 3% down on the day. Per Watcher Guru, roughly $222M in longs were liquidated in 30 minutes, then another $125M in 20 minutes. $ETH tagged $1,984 before bouncing, and Fear & Greed sits at 28.
My read through Sunday: this looks like a leverage flush tied to stocks, not a crypto-specific problem. A daily close back above $74,000 would tell me the panic is fading. A daily close under $71,000 opens the $69,000 to $70,000 area. I lean cautious until one of those happens, and I'm wrong on that lean if $74,000 is reclaimed quickly.
Lower leverage on days like this.
#Bitcoin #CryptoMarket #Nvidia
#MarketUpdate
NFA
