BAYKRIPTO WEEKEND MORNING — AUGUST 29 Good morning traders. We’re… — BayKripto (Mr. Crypto)

BayKripto (Mr. Crypto)@baykkripto · 14K subscribers Open in TelegramOpen

BAYKRIPTO WEEKEND MORNING — AUGUST 29

Good morning traders.

We’re waking up to a very different market than yesterday.

BTC: ~$77K–$78K

ETH: ~$2,420

XRP: ~$1.36

Bitcoin was trading above $80K, but the market sold off sharply after Fed Chair Kevin Warsh delivered a hawkish message at Jackson Hole.

The key point: the Fed is still not comfortable with inflation.

That immediately hit expectations around easier monetary policy and pushed risk assets lower. Crypto followed.

THE LEVERAGE CLEANOUT

The move wasn’t small on derivatives either.

Around $467M in crypto positions were liquidated, with roughly $351M coming from longs.

BTC alone saw around $138M in long liquidations.

WHAT I’M WATCHING THIS WEEKEND

Yesterday we were talking about $78K as the first important area.

Now BTC is actually testing that zone.

$78K reclaimed → first sign buyers are absorbing the sell-off.

$77K–$78K lost → I start watching $75K–$76K much more seriously.

And because it’s the weekend, thinner liquidity can exaggerate moves in either direction.

I wouldn’t chase anything here. Let the market show whether this is just a leverage flush or the beginning of a deeper correction.

Enjoy your Saturday.