💥 SO, WHAT JUST HAPPENED? 💥
You surely noticed. $BTC experienced within an hour a dump from about 63k all the way to about 59k. So, after all, what happened?
From updates on the Iran x Israel conflict, to the remembrance of how close the Halving actually is. What truly happened?
Well, let me start by stating the inevitable: $BTC will crash, and will crash a LOT in a near future, and what happened here today is only a taste of the pressure being held within the price of Bitcoin.
In the last hour, more than 10,000 BTCs (≈600 Million USD) had to be traded to avoid catastrophe. Yes. Half a Billion Dollars. Why? Below 58k is a very dangerous zone where massive liquidations are expected to happen.
Do you remember when BTC was happily above 70k? Yes. Those people who bought with margin above 70k, expecting the price to go up, THEY will be the ones FORCED to SELL if the price falls below 58k.
And what happens when they are forced to sell? Bitcoin falls even more, leading to more and more liquidations, until there is no more fuel to crash.
That's what they tried to avoid with the recent 10,000 BTCs traded. Those BTCs have been traded not because of a coincidence but because the crash is being postponed as much as possible.
But can you forever prevent water from flowing down a broken dam? Eventually the concrete will give up. And that's the moment... we will see the real... crash.
Once again, making this Halving no different from others. Once again, preparing the market for a healthy and beautiful... Bull Market.
Take care, and stay safe.
