Bitcoin slipped right past that pivotal $70,000 support and things got gloomier fast, sliding straight into a fresh multi-month low. 🌑💸
Although plenty of alts are bleeding too their drops feel less severe while btc dominance keeps eroding.
The chart paints bitcoin’s descent across bigger and smaller timeframes. It hovered above $82,000 just weeks back before getting shoved downward aggressively.
Zooming closer shows btc opening June near $74,000 only to tumble to $67,500 within roughly 40 hours marking a $6,500 drop. The coin hasn’t touched these depths in nearly two months.
Analysts are mostly riding the bearish wave suggesting bitcoin might soon test $65,000 or sink even further.
Its dominance has slid beneath 56 percent on CoinGecko falling more than 1 percent in a single day and over 2 percent across the past week. While most alts sit in red territory many have held up better than btc.
Speculation swirls that Strategy’s choice to offload a modest slice of its bitcoin stack could be fueling this sharper pain.
With prices free-falling so rapidly over $1 billion in leveraged positions got liquidated within the last 24 hours and longs accounted for 90 percent of that carnage.
More than 170,000 traders got rekt while the biggest single wipeout hit Hyperliquid for over $27 million.
Just another echo from the void by iconofsin.eth 💖
