$BTC dipping hard to ~71,300 after breaking below the lower Bollinger Band (DN ~71,579) • MACD deeply negative with DIF/DEA both in the red • Volume picking up on the downside candles • 24h low tested 71,280 watching if it holds or cracks toward 70k support • Bears in full control right now, but oversold signals flashing
Broad sell-off hitting hard across the board $BTC -7.15%, total spot vol spiking with bears dominating • From majors like ETH/SOL/BNB/$XRP all -7% to -10%, to $ZEC dumping -13.3% • No green in sight on the top favorites list • Either capitulation building or more pain incoming eyes on BTC 70k as next major test if this momentum holds
damn $ETH below $2,100.. its literally tearing apart
down 60% from its ATH.. its flywheel is completely broken rn,
> how it was SUPPOSED to work:
- layer 2s use ETH for settlement - burns eth on mainnet - staking locks supply - demand goes up, supply goes down - "ultrasound money"
> And how it’s ACTUALLY happening:
- layer 2s are active but eth burns are negligible - staking just locked people into watching their bags drop 58% - all that L2 activity isn't creating eth demand - supply is locked but nobody wants to buy
even @VitalikButerin admitted it: "the rollup roadmap no longer makes sense"
the flywheel stopped spinning.. the entire economic model of ethereum is broken..
$HYPE has held up better than pretty much all altcoin over the last 10 days and still seems to be outperforming. I'm not firing here personally but this is probably the only thing that you can consider longing at these levels (depends on strategy ofc). HyperLiquid