Bloody Bitcoin: over 300.000 crypto accounts liquidating since yesterday
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Bitcoin's crash
BTC is selling off hard, breaking violently below the 100 day moving average and the trend channel that has been in place since July lows. Post puking below the 54k support, there is a level to watch at 48k and then the 40/42k area (42k low so far today). Note the 200 day moving average at 46k. You should not care much about it as it is flat, i.e no trend. BTC is down around 30% from highs, the crowd is still very bullish this space, stakes are high, and pain is huge. According to Asenna 372.000 crypto accounts were liquidated in the past 24 hours totalling $2.3 billion with the largest liquidation being$27m. Time for a thread on flows, volatility and pain...
