🚨 BITCOIN CRASH: $60K LOW HIT AMID FTX-LEVEL SELLOFF 🚨
$BTC plunged hard, hitting $60,000 briefly. This wasn't just noise; it was mechanical plumbing failure.
• ETF outflows are persistent, removing the automatic dip buyer support.
• Over $1.2 BILLION in leveraged positions liquidated as the price sank.
• On-chain data shows massive realized losses locking in capitulation pain.
• On-chain models were screaming much higher ($94K STH basis).
Stop looking for a single smoking gun. This was a leverage unwind amplified by thin liquidity. The structure has changed.
