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The $65,500 range support we were watching has now been lost.
That's the first meaningful change on the chart.
Earlier, I said Bitcoin was sitting at a decision point ahead of FOMC.
We're now starting to get that answer.
As things stand, Bitcoin is trading below range support, while local resistance remains at $66,850.
For me, the key level now becomes $63,500.
That's the next major support on the chart and the level I'd be watching if downside momentum continues.
On the flip side, Bitcoin still needs to reclaim $65,500 and then push back above $66,850 before I'd start paying attention to higher targets again.
FOMC is still the main event.
But so far, the range has broken lower.
🚨 $BTC just dropped below $65,000.
Yesterday when Bitcoin was close to $67k, people were telling me the dump was over and that new highs were coming. Today the same market is red again.
This is why I always tell people not to get too excited by a few green candles.
The biggest mistake traders make is thinking that price going up means the trend has changed.
Yesterday I said the recent pump was mostly driven by the US-Iran peace news and that Bitcoin was entering one of the strongest resistance zones on the chart around $68k-$70k. And exactly in this level buyers are struggling.
I still believe Bitcoin will go below $60k again before the real bottom is in.
The real Bottom will be:
$BTC $52k
$ETH $1400
$SOL $40
One thing crypto has taught me is that the market looks strongest near local tops and looks dead near major bottoms.
🚨 SPACEX MAY BE THE BIGGEST EXIT LIQUIDITY EVENT IN MARKET HISTORY.
SPCX is up 70% from IPO.
But only 4% of shares actually trade publicly.
The other 96% are still locked.
Now passive funds are being FORCED to buy while insiders prepare to unlock and dump shares starting as early as July/August.
Retail thinks they are buying the future of space.
They may actually be funding the largest insider exit of this entire cycle.