💥Bitcoin directly crashes through the $108,000 mark! Behind it are two "nuclear-level" bearish news that stunned the market: miners frantically offloading 51,000 BTC in a terrifying transaction, comparable to pouring oil on the fire during a bear market;
Paxos has also created a huge mess - mistakenly issuing $300 trillion PYUSD, and even if they urgently destroy it, the trust in stablecoins has been shattered! It's important to note that this is a "compliance benchmark" with a market value of $2.6 billion, and now even it is unreliable, with USDC and BUSD trembling in fear, liquidity in the crypto circle has been choked, and Bitcoin buying pressure is being drained!
Don't think it's bottomed out! Strong support at $96,000 - $100,000 looks solid, but once the Federal Reserve dares to delay interest rate cuts in November, combined with the perpetual contract long/short ratio falling below the 0.8:1 "liquidation curse," this defense line could be torn apart in an instant! What's worse is the extreme bottom line at $93,000; if it truly breaks down, it will become a "slaughterhouse" of chain stop-losses, and by then, there will be no chance to escape!
Retail investors shouldn't panic and recklessly cut positions, but they absolutely cannot lie flat! Quickly clarify your positions: 60%-70% positions should firmly hold BTC/ETH, which is the bottom line for survival! Leverage should be reduced to below 3 times, with stop-loss lines for long positions at $102,000 and short positions at $95,000, and a single cent cannot be missed!
Want to buy the dip? Only dare to use 10% of funds to test the waters at $100,000 - $102,000, and adding positions must wait for two major signals: miners' transfers to completely stop and Bitcoin reserves on exchanges to rise, plus Paxos must provide an audit report to prove their innocence! Additionally, the whale holdings from Glassnode and the daily net inflow of $500 million+ for ETF are life-saving straws; keep a close watch to avoid the crash and seize the rebound! $BTC
