Black Friday: Bitcoin Plummets, $450 Million Liquidation Tidal Wave Approaches!
Last night, the crypto market faced the impact of 'Black Friday'! Bitcoin experienced extreme volatility within the day, plummeting from a high of $106,486.2 to a low of $102,255.3, with a drop of over 3% in 24 hours. Dragged down by this, mainstream coins like Ethereum also fell in tandem, with ETH briefly dropping to $2,363.88, and panic spread across the market.
A direct 'bloodbath' occurred, with $450 million in positions liquidated, over 86% of which were long contracts that suffered liquidation. Currently, Bitcoin has slightly rebounded to around $103,554.3 and is oscillating, with short-term attention needed on the effectiveness of the $103,000 support level. Factors such as geopolitical conflicts and macroeconomic headwinds are compounding the situation.
Operational suggestion: Try going long with small positions around ETH $2,410 and Bitcoin $103,300 (strictly set stop-loss and take-profit to prevent one-sided market movements).
If anyone feels lost due to market fluctuations and doesn’t know how to deal with being in a losing position, or feels misled during their trading process, feel free to reach out!
