$BTC closed the weekly candle below the 50-week moving average for the first time in 2 months. It's sitting near $74,000, the lowest since mid-August.
The push didn't even come from crypto. Nvidia's board is investigating Jensen Huang, the stock dropped almost 5% premarket, and all of tech dragged us down with it.
$700 million in longs wiped in 15 minutes on Sunday night as $BTC slipped under $75K and $ETH hit $2,100 Bitcoin ETFs bled $1.3 billion last week, $1.21 billion of it from BlackRock's IBITCryptoQuant: recent buyers are underwater, so the $79K area turns into a wall of break-even sellers 📌But why does this matter to us
Because the next levels are clear. The daily MA200 sits near $73,240, then the weekly MA200 around $67,760. Ash Crypto warns that a second weekly close under the 50W opens the low $60K zone.
A chip CEO's private life moving my Bitcoin... the jungle gets stranger every cycle.
US inflation data lands this week too. I'm not catching knives with leverage. Bulls need a weekly reclaim of the 50W, or this was no fakeout.
NFA. DYOR.
