Everyone's calling this the bottom because big black swans marked bottoms before
They did. Just never on day one. Hash war took 30 days, FTX 13, Bybit 7
We're 5 hours in and -6%. I'll wait for the lows to stop getting tagged
@wliang Worth noting neither bottom was day one. Hash war started Nov 15 2018, low came Dec 15. FTX broke Nov 8 2022, low came Nov 21. Event first, bottom 2-4 weeks later
@360_trader Small correction: the earliest on-chain flag I can find was 20:32 UTC, so the 80k break and the first reports landed within minutes of each other
@360_trader Timeline backs you up. 82k rejected three times yesterday, and 80k broke around 20:30 UTC. The first Binance outflow reports only showed up at 20:42
77k gave way too, low 76,760. ETH under 2,200
Only green coin in the majors tonight is TRX, +7%. A lot of exchanges shut Tron withdrawals, so it can't be arbed down
Next real level for me on BTC is 75k
BREAKING: Bitcoin falls below $77,000 and ETH falls below $2,200 after Binance confirms that they have been hacked.
This is looking like it will be the biggest hack in crypto history.
Every floor from today is gone. 82k rejected three times, then 80k, 79.7k and the 79k longs all went inside four hours
77-77.7k is the last real support before Ted's 75k. That's where I want to see buyers show up
$BTC is at $78,164, down almost 4% today after the Binance hack.
In the last hour, about $7M in leveraged bets on a rise got wiped out.
Those forced sales are pushing the price lower.
Right now nobody is stepping in to buy the dip yet.
Key levels:
Support at $77.7K, then $75K
Resistance at $79.7K to $80K
What I want to see is $77.7K holding, then BTC getting back above $80K.
How I see it:
This is the market clearing out leverage, not a bottom signal yet.
The daily close at 01:00 CET is the big one to watch.
@VuoriTrading The chop ended sooner than either of us thought, the Binance hack sent it to 78k. Do you still see the send from here or does this change it?
@blackwidowbtc BNB is the chart to watch for that. -6.9% today with a 680 low while BTC is only -3%. If BNB holds 680, the bank run playbook probably repeats
@TedPillows Bybit's hacker took about 10 days to wash his ETH. If this one does the same, ETH has a big seller hanging over it for a while. 2,233 is the low to watch
BTC is only -3% on the biggest hack ever. The pain is in what the hacker is holding
ENA -16.7%, PEPE -12%, AAVE -11%, LINK -9.6%, all printing day lows while he swaps them into ETH on-chain
He still has $100M+ of these left. I'm not catching any of them until he's done
@Cryptobullmaker BTC maybe. The coins the hacker is holding are a different story: ENA -16.7%, PEPE -12%, AAVE -11%, LINK -9.6% on the day, all sitting at their lows while he keeps selling