Good morning, esteemed colleagues.
One anticipates a measured rebound toward the $66.5K region, followed—in my considered view—by a further wave of liquidations as the market reasserts itself.
The chart has been duly refreshed whilst we indulge in the traditional Sunday pursuit of the fairways.
For members of the VIP Club, the entry of note stands at $63K (in sweet green).
A most satisfactory start to the day. ☕️👨🍳 #BTC
Bitcoin has slipped below $65,000 (trading around $64,960–$65,300), hitting a three-month low.
The ongoing sell-off is being driven by a mix of macro headwinds, institutional outflows, and liquidity drains:
Heavy Spot ETF Outflows:
Institutional demand has sharply reversed. Spot Bitcoin ETFs saw over $1.07 billion in outflows this week alone—bringing total monthly withdrawals to $2.35 billion.
US Fed Rate Hike Fears:
Stronger-than-expected US jobs data (over 165,000 jobs added) alongside rising October inflation has shifted market expectations. Federal Reserve officials have signaled potential rate hikes (with growing odds of a 50 bps hike in December), pushing investors away from risk assets.
Massive Leverage Liquidations: Breaking key psychological support levels ($66,000 and $65,000) triggered over $2 billion in forced derivatives liquidations—heavily skewed toward long positions—creating a cascading sell-off over the weekend when order books are thinner.
Liquidity Rotation to AI & Contracting Stablecoins: Capital is rotating out of crypto and into major AI equities and upcoming blockbuster IPOs (such as Anthropic), compounded by a $14.2 billion contraction in overall stablecoin supply.
Regulatory & Market Sentiment Jitters: Following the US midterm election results, expectations for quick passage of pro-crypto legislation (like the CLARITY Act) have dimmed. Coupled with lingering fallout from recent exchange security breaches, the Crypto Fear & Greed Index has dropped to 17 (Extreme Fear).
Watch the $62,000–$63,000 zone closely—that served as the July support floor and is the primary level traders are monitoring to see if selling pressure exhausts itself or triggers another leg down.
Hello everyone
As market is facing heavy losses, i m just holding my $BTC position to dca it out later
But for now market is uncertain as technicals are not working properly due to so much happening these days
I provided less trades than normal these days to stay patient and protect capital in such market 🤝
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