Morning market polarization! Gold and silver soar with the tailwind of risk aversion, while cryptocurrencies experience a shocking plunge. Bitcoin crashed nearly 4000 points, and the two-day gains instantly returned to zero.
After a high-level consolidation, liquidity harvesting and the brutal clearing of long positions played out. Structurally, the sharp drop in cryptocurrencies resembles a liquidity battle; although the daily chart is dominated by bears, the RSI has entered the oversold zone, and downward momentum is nearing exhaustion.
It is suggested to go long around 92000-92800, targeting 93000-94000.
BTCUSDT
Perp
88,613.6
-0.99%