Bitcoin Falls Below $82,000

Benzinga

Bitcoin just plunged nearly 10 percent to around $82,000, triggering more than $2 billion in liquidations across crypto. Spot Bitcoin ETFs saw $903.1M in outflows, with another $261.6M leaving Ethereum products.  Glassnode reports realized losses at levels last seen during the FTX collapse, driven by short-term holders capitulating. Analyst Ali Martinez says Bitcoin’s weekly SuperTrend has flipped bearish, a signal that has historically preceded every major correction for more than a decade.  Ethereum has dropped to $2,650, with resistance at $3,200 and support at $2,580. Solana is sitting on major support. Meme-coins fell nearly 11 percent, even with the new Doge ETF launch.

Transcript

00:00Bitcoin just cratered over 10%, dropping below 82,024 hours, and the fallout across crypto has been brutal.

00:08Over $2 billion was liquidated with spot ETFs seeing massive outflows.

00:13$903 million out of Bitcoin funds and another $261 million pulled from Ethereum.

00:19Glassnode says realized losses just spiked to levels we haven't seen since the FTX collapse,

00:25mostly from short-term holders finally capitulating.

00:27And here's the part traders aren't going to like.

00:30Bitcoin's weekly supertrend just flipped bearish, and for more than a decade, every bearish flip has led to a major correction.

00:38Ethereum has dropped to around $2,650 with key resistance at $3,200 and support near $2,580 where reversal setups may appear.

00:49Solana is sitting on a major support zone.

00:51Meanwhile, meme coins were hit the hardest, down nearly 11%, even with the new Doge ETF debuting.

00:58Bottom line, this wasn't just a dip, it was a full-on washout, and the charts suggest the correction may not be finished.

Category

Transcript

Be the first to comment

Recommended