**Bitcoin just wiped out every gain since Trump won the election—and it's bleeding harder.**
We're talking sub-$60K territory now. That's brutal. The most oversold setup since the 2020 crash according to the data, which honestly sounds like it could be either a face-ripping bounce or a trap door. Markets are pricing in some real fear right now.
Here's what's wild: everyone was expecting a Trump pump. Instead we got dumped. Election trade failed. Now the question is whether this is capitulation or if there's more pain coming. The $70K level is being thrown around as a potential rebound target, but we'd need actual conviction to get there—and I'm not seeing it in the order books yet.
ETH is even worse off, hitting 13-month lows. That Zcash vulnerability news didn't help the vibe, but honestly? BTC dropping to sub-$60K was the real catalyst. When Bitcoin moves like this, alts get obliterated.
The smart play right now is watching for volume on any bounce attempt. If we see a dead cat bounce without real buying pressure, we could easily revisit lower levels. But oversold doesn't mean "buy here forever"—timing matters.
Are you buying this dip or waiting to see capitulation wicks first?