It’s not looking great across the broader market.
Risk-off sentiment in other markets appears to be affecting BTC buyers
Zero decision on the Grayscale Bitcoin ETF v. SEC lawsuit as of today. Maybe by the end of the week?
Nobody’s buying-the-dip, which is a bearish sentiment.
Open short contracts have reached a 3 month high by volume.
Crypto exchanges saw liquidations of $992 million last week, affecting some 160k accounts, due to BTC, Eth and other altcoin prices plunging.
Did I miss anything?
Actually I was given some analysis under $10k to $5k to $2k if there is a risk off total market event, I have arbitrage source code so it doesn’t matter if the markets are $2k or $200k as it sits under the cycles, sure crypto can go to the moon but often you get retest of lows, a fully regulated and absorbed in to the financial system crypto is in the low $1,000s Bitcoin, wasn’t quite the plan for crypto but then Einstein didn’t plan on nuclear equations being used for no good
Nice move today on the weak US economic news. The Grayscale news from today doesn’t hurt either.