#downtrend #BİNANCE #Write2Earn Binance Crew, the crypto market saw a sharp pullback today, with broad selling pressure across major exchanges like Binance, Coinbase, Kraken, and OKX.
Prices were largely synchronized due to arbitrage, but volumes spiked on downside moves, amplifying volatility. Total market cap hovered around $3.05–$3.2T, down ~0.8–2% in 24h, with over 90% of top 100 coins in the red.
Here's the key breakdown:
Price Action & Top Coins (Aggregated from Exchanges)
Bitcoin (
$BTC ): Traded at ~$83,463–$85,000, down 6.4–6.5% in 24h. Broke below key $85K support (100-week SMA), signaling seller control after two months of holding. On Binance: High volume dumps; Coinbase saw extended losing streak.
Ethereum (
$ETH ): ~$2,890, down ~1.5–5%. More vulnerable, with predictions of retesting $2,000 before upside.
Other Majors:
$XRP & DOGE down ~5%, faltering at supports; SOL, BNB similar bleed. Overall, alts underperformed BTC amid risk-off.
Liquidations: Over $550M wiped out, mostly longs, adding to downward spiral.
Key Causes (Geopolitical & Macro Dominated)
1. Geopolitical Tensions: Fears of US-Iran conflict escalated (Polymarket odds rising), with Trump threats potentially closing Strait of Hormuz. This drove safe-haven flows to gold/silver (at ATHs), away from crypto. Echoed past dips from US-Greenland/NATO tariff warnings.
2. ETF Outflows: US spot BTC/ETH ETFs bled $1.1B this week ($160M+ today), reversing inflows and pressuring prices.
3. Fed & Macro Uncertainty: Fed held rates (as expected), but no cuts signaled amid rare earth tariffs and slowing growth. Broader risk assets (stocks) dipped, dragging crypto.
4. Regulatory Noise: UK FCA final consultations on crypto rules; US Clarity Act stalled amid industry infighting. Added caution.
5. Sentiment & Technicals: Fear index in "fear" zone; social buzz on X urged "buy the dip," but weak momentum (e.g., Coinbase stock -6%) fueled choppiness.
Exchange-Specific Notes
Binance: High trading volume (~$139B global), but alt dips amplified (e.g., meme coins like DOGE hit harder).
Coinbase: Longest losing streak since 2024; US-focused outflows hit hard.
Others (Kraken, OKX): Similar price action, with slight premium/discounts <1% due to arb bots. No major outages reported.
This extends a multi-week bleed (BTC -31% from Oct ATH ~$126K).
Short-term: Choppy/weak unless headlines ease.
Long-term: Analysts like Druckenmiller see strength from money printing/legislation.
DYOR, Yours truly CAPGOLDROGER signing out... buy the fear or sell the buzz? 🏴☠️📉