Crypto crash of -5.24% to 2.85T$ in 24h! 📉💥 Massive liquidations of $431M in BTC lead the plunge. Correlation 87% with gold due to macro uncertainty. 🪙🔗
Key reasons:
1. Brutal leveraged liquidation 🚨: Rapid deleveraging drags everything down.
2. Macro uncertainty 🌪️: Trump announcement about new Fed chief + decline in BTC dominance.
Short-term outlook 🔮:
• BTC support $84K 🛡️ → Bounce to $88K 📈
• Breakdown → Drop to $80K 😱