The psychological wall hasn't just cracked it has completely shattered. For the first time since late 2024, Bitcoin has sliced through the $70,000 floor, hitting lows of $68,430 and sending a shockwave through the global financial system. We are now 40% down from the October peak of $126,000, and the market is officially in a state of "Extreme Fear."
The carnage over the last 24 hours is staggering. We aren't just looking at a price dip weâre witnessing a total mechanical reset. Over $1 billion in crypto positions were vaporized in a single day, with $790 million of that coming from "long" bets traders who were convinced the $70k line would hold. More than 156,000 traders were liquidated as the market punished anyone using high leverage.
đš The bleeding isn't limited to Bitcoin. The entire ecosystem is under siege:
âĄïžEthereum took a brutal 9% hit, struggling to keep its head above $3,200.
âĄïž Solana collapsed by 12%, hitting a two year low near $88.
âĄïž Institutional Giants like BlackRock and Coinbase have seen massive outflows, with over 13,500 BTC dumped by Binance alone in a matter of minutes.
â ïž The next 48 hours are the ultimate test. If Bitcoin cannot reclaim the $71,500 level and consolidate, the technical charts point to a much deeper slide toward the $60,000 range or even a test of the long term support at $54,000. We are currently seeing realized losses averaging more than $1.2 billion per day, a clear sign that "panic selling" has taken the wheel.
The exit door is jammed with people trying to get out. The question is no longer about "when moon," but about who has can survive the floor falling out.
#CryptoCrash #BTCè”°ćżćæ #MarketLiquidation #solana
