🪙 BTC & MARKET UPDATE

The massive correction happened. Why? Because of the PPI data rose to 3.3% — higher than expected. Typically, this news would not trigger such a massive sell-off.

However, people had grown accustomed to the bullish market and opened a ton of LONG positions with high leverage. As the result, a massive cascade of liquidations occured and drove the dump crazy.

I was expecting a correction to happen much earlier, it saved my ass.

❗️TALKING ABOUT FURTHER POSSIBILITIES: The next few days will determine the future of this bull cycle (at least for the next 1-2 months). Bitcoin is now back inside the $116,500 - $119,500 consolidation range.

If we see some strong positive movements on Altcoins & Bitcoin this week, it will show that the real demand (whales & funds) are interested in pushing the price higher. However, if Altcoins & Bitcoin are weak, then most likely the TOP of this cycle was marked at $124,000.

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