⬛️ $800M Liquidated, But Wall Street Isn’t Panicking.
💬 What happened: Bitcoin plunged below $70,000, hitting its lowest level in two months. The sell-off triggered over $800 million in liquidations, wiping out leveraged traders and fueling market-wide fear.
🔔 Despite the sharp drop and continued outflows from spot Bitcoin ETFs, Bloomberg ETF analyst Eric Balchunas believes this is nothing more than a healthy correction within a broader uptrend. According to him, institutional demand for digital assets remains intact, and current ETF outflows do not change the long-term picture.
📊 Billions have exited Bitcoin ETFs in recent weeks, but overall interest from major funds and Wall Street remains strong. Traders are now closely watching the 200-day moving average, one of Bitcoin’s most important support levels.
❗️Retail traders are getting liquidated, while excess leverage is being flushed out of the market. As fear spreads among short-term participants, institutional capital continues to view the current volatility as a normal phase of the cycle - not the end of the bull market.
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