I want you to take a step back and really look at this weekly chart of #Bitcoin
When you combine price action with RSI on this timeframe, it becomes pretty clear that this is NOT where you historically want to be aggressively bearish $NAORIS
BITCOIN’S $60K LEVEL SEEN AS LIQUIDATION TRIGGER $BTC
Bitcoin faces a key test at $60,000, with options and loans suggesting a breach could spark forced selling and sharp volatility.$NAORIS
Deribit data shows the largest cluster of put options pays off below $60K, near the 200-week moving average at $58K — a crucial technical support. Loans tied to Bitcoin would automatically liquidate collateral if prices dip, potentially triggering a cascade of deleveraging. $VVV
Bitcoin traded around $67,000 on Friday, down ~47% from its October peak. Analysts warn a break below $60K could push it toward $50K, where the second-highest put open interest lies. Open interest in $60K puts totals $1.24B.
Market sentiment is heavily bearish. Experts say a sustained drop below $60K/$58K could fuel another 20% correction, while any relief rallies remain fragile.
BREAKING: 🇺🇸 Several U.S. firms took payments from Epstein to suppress online coverage of his sex offenses in Google search results, and edit his Wikipedia. $NAORIS $EUL $COMP
🚨BESSENT: CLARITY BILL SHOULD REACH PRESIDENT BY SPRING $NAORIS
U.S. Treasury Secretary Scott Bessent warned that delaying the market structure bill until 2027, after the US midterm elections, could jeopardize the chances of the CLARITY act passing.$EUL $BTC