Bitcoin "Cliff-like" Plunge! Dropped below $81,000 in a single day, over 170,000 investors were bloodbathed
Bitcoin encountered a fierce sell-off during the US trading session, reaching a low of $81,000, a over 25% pullback from the historical high of $110,000 set in January. As of the time of writing, BTC is temporarily reported at $81,773, a 3% drop in 24 hours, and the market cap has evaporated over $550 billion.
This plunge caused over 170,000 investors to be liquidated, totaling $700 million, with the largest single liquidation occurring on BitMEX, amounting to $8.2 million. An investor joked: "Yesterday I was dreaming of buying a house with Bitcoin, but now I can only afford to buy the '9.9 yuan liquidation consolation package' on Pinduoduo." Affected by BTC, mainstream Altcoins such as Ethereum and Dogecoin also generally declined.
Three major factors triggered the market crash
Policy Black Swan: South Dakota rejected the Bitcoin reserve bill, and Trump's tariff threats exacerbated economic uncertainty, undermining BTC's "digital gold" hedging narrative.
Security and Trust Crisis: Bybit exchange was hacked, causing user panic withdrawals and rapid depletion of liquidity.
Leverage Liquidation Stampede: Bitcoin fell below the $90,000 key support level, triggering over $15 billion in forced liquidation of leveraged positions, leading to a "long squeeze" chain reaction.
The market is still in violent fluctuations, and whether BTC can stabilize still depends on the recovery of market confidence and liquidity.
ETH Trend: The neckline support of ETH was mentioned yesterday at around $2,200, and we will continue to focus on whether this level can be stabilized. If it breaks below $2,100, it means that ETH has entered a major bearish trend, and caution is needed.
Altcoin Dynamics: Although mainstream coins continue to plummet, Altcoins have not shown a significant decline. Meanwhile, Bitcoin speculative capital has started to flow into Altcoins, suggesting that the future market may see a scenario of BTC weakness and Altcoin strength. The current strategy is to hold on to your Altcoins and wait for the opportunity to buy the dips in Bitcoin!
CZ Releases Another "Mysterious Prediction", Sparking Heated Discussion on Bitcoin's Future Target Price!
Binance founder CZ has been "active" on social media again, seemingly hinting at his views on Bitcoin's future price. He dug up an old tweet from 2020, where he said: "Future newspapers may report that Bitcoin crashed from $100,000 to $85,000." However, at that time, Bitcoin was still far from $100,000, and now his words seem to be gradually coming true.
This time, CZ is playing a similar trick, but with even more exaggerated numbers. He jokingly said he's waiting for the media to report: "Bitcoin plunged from over $90 trillion to 'a little bit less than $90 trillion'." Although just dropping a digit, the numbers still look astonishing. He even suggested that everyone should save this tweet, making people wonder - is CZ hinting that Bitcoin will eventually break through $1 million?
Looking back to 2020, when CZ tweeted, Bitcoin was still around $20,000, and then it surged 5 times. If his hint comes true this time, Bitcoin could potentially rise over 10 times more. However, in the short term, the market remains turbulent, with Trump's tariff rhetoric affecting the global market, and Bitcoin also declining accordingly. CZ's true intentions are unknown, but the volatility of Bitcoin is still worth continuous attention!
Although Bitcoin and Ethereum have entered a downtrend, Litecoin (LTC) has not seen a large-scale sell-off, indicating that holders still have confidence in the price. Currently, LTC is at the upper rail of the trading range, and if it retraces to the lower rail, it will be an ideal opportunity to buy the dips.
Reasons to buy the dips:
Solid Technical Fundamentals: MACD is still above the zero line, and EMA5 and EMA20 are intertwined, not yet forming a downtrend.
Continuous Capital Support: Whenever the price touches the lower rail of the trading range, capital steps in to drive the price up.
ETF Positive Expectations: The LTC ETF is in the approval stage, and it is highly likely to be approved, and the market has expectations for it, so holders have not shown panic selling, supporting price stability.
If the price retraces to the key support level, it will be an excellent entry opportunity, and it may see a strong rebound in the short term.
That's it for today's article. Currently in a bull market, with turbulent developments, we have daily crypto sharing. Crypto enthusiasts who want to join the discussion and learning, add Q: 3806326575 or follow the public account, Crypto Kitty y
