$BTC Fails To Reclaim $60K 😳 Here's Why !! 😲
If you look at the liquidation heatmap for Bitcoin right now, the chart is in an incredibly tense spot after dropping back to $58,600. While we had a brief overnight rally, the spot market is facing massive pressure, and there is a huge pool of retail long positions completely exposed down at $56,800.
High-volume VSA (Volume Spread Analysis) charts show that the market is currently being entirely driven by heavy institutional selling. Institutional spot ETFs just bled out another massive $296 Million in outflows today alone, with BlackRock’s IBIT ETF leading the dump by dumping $219 Million worth of BTC. Whales are intentionally stepping back and letting BlackRock’s heavy selling push the price down to shake out weak retail hands, aiming to force the Fear & Greed index (currently at an extreme 19/100) down into the single digits.
I am waiting for the price to find a clear structural bottom. If the whales decide to sweep the lower liquidity pool around $56,500 – $57,200 and VSA buying pressure returns, that will be the ultimate signal to watch for long entries targeting a fast bounce back to $61,500.
📉 For Future Traders: Be extremely cautious buying the dip blindly. If BTC attempts a relief rally but faces high-volume rejection at the $59,600 – $60,200 overhead resistance block, look for short setups targeting the lower liquidity levels with tight stop-losses.
Is BlackRock trying to completely crash the market, or are they just giving us one last massive discount before the real July reversal? Let me know your entry prices below! 👇
#Bitcoin #BTC #CryptoTrading #TechnicalAnalysis #BinanceWrite2Earn #CryptoNews #WhaleAlert
If you look at the liquidation heatmap for Bitcoin right now, the chart is in an incredibly tense spot after dropping back to $58,600. While we had a brief overnight rally, the spot market is facing massive pressure, and there is a huge pool of retail long positions completely exposed down at $56,800.
High-volume VSA (Volume Spread Analysis) charts show that the market is currently being entirely driven by heavy institutional selling. Institutional spot ETFs just bled out another massive $296 Million in outflows today alone, with BlackRock’s IBIT ETF leading the dump by dumping $219 Million worth of BTC. Whales are intentionally stepping back and letting BlackRock’s heavy selling push the price down to shake out weak retail hands, aiming to force the Fear & Greed index (currently at an extreme 19/100) down into the single digits.
I am waiting for the price to find a clear structural bottom. If the whales decide to sweep the lower liquidity pool around $56,500 – $57,200 and VSA buying pressure returns, that will be the ultimate signal to watch for long entries targeting a fast bounce back to $61,500.
📉 For Future Traders: Be extremely cautious buying the dip blindly. If BTC attempts a relief rally but faces high-volume rejection at the $59,600 – $60,200 overhead resistance block, look for short setups targeting the lower liquidity levels with tight stop-losses.
Is BlackRock trying to completely crash the market, or are they just giving us one last massive discount before the real July reversal? Let me know your entry prices below! 👇
#Bitcoin #BTC #CryptoTrading #TechnicalAnalysis #BinanceWrite2Earn #CryptoNews #WhaleAlert