🙀 $BTC JUST BROKE $68K — The Real Reason & What Happens Next 📉📉
BTC losing $68K wasn’t just another dip. That level was holding the market together. Once it snapped, the tone changed fast. Bounces got weak, sellers got agressive, and momentum shifted.
🐋 Whale Selling Hit at Support
A large wallet reportedly dumped around 2,500 BTC (~$172M) right near that $68K zone. That’s serious size. When that much supply hits while buyers are defending a level, bids disappear quick. The break wasn’t random — it was pressured.
📊 Leverage Still Loaded
Futures Open Interest is still around $44B–$47B. That’s heavy. Funding is only slightly negative, not panic levels. So the market hasn’t fully flushed yet. Longs are still sitting there. That means liquidation fuel still exists if price pushes lower.
📉 ETFs Aren’t Helping
Spot BTC ETFs are down roughly 3% today. When ETFs are red like this, there’s no strong passive demand catching the dip. That makes downside feel heavier.
🇺🇸 Jobs Data Removed Pivot Hope
Latest US jobs numbers weren’t weak enough to force an emergency Fed rate cut. No instant pivot narrative. No macro rescue bid. BTC has to stand on its own structure — and that structure just broke.
🎯 My Take
There’s a strong chance BTC trades near or even below $60K before US session close.
Not calling end of cycle. Just reading what’s in front:
whale supply at support, high OI, funding not flushed, ETFs weak, no Fed tailwind.
If BTC reclaims $68K strong, I’ll switch bias fast.
Until then, pressure stays on.
