$624 million in liquidations in 24 hours! 🩸🩸🩸
All the stars seemed aligned at the beginning of the week to perform well in crypto.
But as soon as the JOLTS Report and Non-Manufacturing PMI were released, the Dollar pumped, causing indices to drop, and with them, cryptocurrencies.
It's really unfortunate, but not the end of the world, my friends. Yes, it’s frustrating to see a -10% hit right at the start of the year, but stay positive. Patience is key, and as always, it will pay off in the end.
However, $624 million in liquidations within 24 hours is massive. And with the number of LONG positions suddenly opened to "Buy The Dip," I think we might go a bit lower still, perhaps to the lower range around $90,000.
Avoid trades with high leverage.