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Bitcoin crashes to $65K and liquidates billions — ride the downward momentum

Bitcoin experienced a massive crash down to $65,000, forcing over $1.8 billion in leveraged trades to be automatically sold off. Traders are now watching to see if it will fall even further to $60,000.

Idea

A massive crash wiping out $1.8 billion in leveraged positions shows that panic selling has taken over the crypto market, making it dangerous to try and catch a bottom just yet. When forced selling of this magnitude happens, it often takes several weeks for the market to find a floor and recover. With traders publicly targeting $60,000 as the next benchmark, the downward momentum will likely push prices lower before any real recovery begins.

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BTCH4#crypto#momentum#macro

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