Behold, the leveraged long liquidation cascade. 👀
These frequently herald the start of the next leg higher in a strong bull market. 🐂
#LLLC #Bitcoin
Discussion
Is it wrong to think of it as ~14-16k BTC liquidated in 24hrs? (1.5 billion/~92k)
The best case scenario is 15k and Saylor with Blackrock giving all away in the act of liquidation.
I'm still waiting for 8k though 😕😪
True maximalists want the price to go down to get more of it 😆🤣
Could this explains why bitcoin and Ethereum actually are equal down right now? I mean, probably many people long bitcoin and many short ethereum?
Yes, that’s a possible explanation. If many are long on Bitcoin and short on Ethereum, it can create pressure on both, leading to a similar downward movement. Market dynamics like this can often cause both assets to move in sync.
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Suggested price for a buy limit order ?
I’m a fan of the current prices.
nostr:npub1qh5sal68c8swet6ut0w5evjmj6vnw29x3k967h7atn45unzjyeyq6ceh9r has some key price levels on charts.checkonchain.com
Great video out this morning too for subscribers of his. Highly recommend a look
9x,000 is a buy always. Sub 90 is a steal.
Now #Bitcoin’s ready to rocket. History doesn’t lie 2020 taught us that!
Jesus christ, look at all those zeros over there.
AKA the consolidation round.
Doc I compiled the Bitcoin resources here … Do you have any suggestions to add ??
https://sidreddy.medium.com/getting-into-bitcoin-101-cc06005994da
I knew something like this was coming, but couldn't have predicted exactly when it would occur. That's why I DCA as frequently as I can. Time in the market is better than timing the market!
Yep. Must go down to go up.