Why did Bitcoin and Altcoins Crash ?  The last 24 hours were brutal for the crypto market as BTC crashed below $60k while alts crashed 30%â50%.  The primary reason behind this crash was the Iran drone attack on Israel.  During a war, commodities like oil and gold rise in value, which results in high inflation.  High inflation means no rate cuts, which is bearish for stocks and crypto.  This is why crypto sold off heavily yesterday, as people anticipated that this war could lead to high inflation, which would result in no rate cuts.  Once BTC and alts started crashing, those who had high leverage positions open started getting liquidated, which resulted in more forced selling.
Something similar happened during Covid in March 2020, Russia Ukraine war when the market panic sold and then rebounded within a month
As per some media sites, Iran already made their allies aware in advance
This means that the cartel were already ready for this dump
They just waited till the weekend as there was low volume and then crashed the market
After market started panic selling, they bought the dip as usual which resulted in a quick bounce  The lesson here is to avoid leveraged trades and keep your portfolio in spot. This is the best way to maximize your gains while keeping your risks to a minimum.  Right now, BTC is trading above $63k with a strong support at $60k level
If $60k level don't hold, there is a strong support level at $56k - $58k where most of the new whales (ETF buyers) have bought their BTC
Keep in mind that after every black swan event, the crypto market has witnessed parabolic runs and the same will happen this time too
Leverage is a disaster in the markets. baglades# I think I've said it enough times: don't use leverage don't try futures, you'll just lose your money. I can assure you of that. But I don't want to talk this time. I want to talk about the impact of leverage on movements in crypto markets. Pay attention, because this is very important to understand. First, understand how leverage works with $100 in leverage : Imagine you open a trade to buy 10, it will work as if you had $1,000. How it works ? An exchange (such as Binance) will easily lend you $900, and in return, if the price drops by 10 (your $1,000 turns into $900), your position is automatically closed so that You can avoid being indebted to the exchange. You are what is called a "liquidate". When you are liquidated on a long position, it immediately creates a market sale at the time of your liquidation: this means that your remaining $900 is sold to get your money back. . Now let's take this trend to Binance and apply it on a much larger scale: imagine