Bitcoin looks set for a massive short squeeze over the next few days: a large liquidity cluster has formed around $84K on the three-day timeframe, giving price a clear target. x.com
Luca - Cryptic Trades
Markets Researcher at Cryptic Trades
Bitcoin gains a major legitimacy signal from ICE's involvement in a Hyperliquid futures venture, giving prospective buyers cover to invest. Per @standuquesne, trade.xyz is partnering with ICE to bring 24/7 perpetual futures on Hyperliquid to the US. Despite nonstop bad headlines keeping price near $80k, crypto fundamentals are improving; bitcoin may need only time, even if it chops or dips to $76k first. x.com x.com
Bitcoin's break back above $80,000, squeezing shorts along the way, marks a serious momentum shift. Per @Nellykingston1, it reclaimed $81,000 for the first time since May, liquidating $415M of short positions. x.com
Bitcoin still needs demand and short open interest before a bottom can be expected. Price reversed after taking liquidity at $84.6K; the nearest liquidity below is $79.6K, while $87K remains the strongest zone above and $90K is now the next target. Patience is warranted until that demand and short interest arrive; no bottom is expected yet. x.com
Bitcoin options show near-term midterm hedging but more upside bets by late November and December. November 6 bets spanned $75.2K-$85.1K, with puts in greater demand and costing more; at the time checked, November 27 had 1.7 calls per put and December 25 had 1.5. A weekly close below $75K is not expected, and the base case is chop between $75K and $93K until around next April. x.com x.com
Bitcoin is absorbing another large wave of long liquidations while still holding $80k. Just six days after a $1 billion liquidation day, Coinglass shows $896.8 million of longs liquidated in the past 24 hours, approaching another $1 billion day. x.com
Bitcoin's pre-FOMC pump looks vulnerable because such moves usually retrace afterward and sweep below prior lows. That pattern now points to roughly $78K. Earlier, liquidations into FOMC and Bitcoin's strong hold near $80K despite another $79K test had suggested the correction might be over and that it could be a bad time to be bearish. x.com x.com
Bitcoin's resilience around $80k through the Fed decision leaves the $87.4k monthly-close bet intact if that floor holds, despite the missed $87k squeeze. The Fed held rates, two voters wanted a hike, and a December hike is now about 85% priced; BTC briefly reached $81.2k before giving it back. The October low is $79.2k; losing $80k would put $76k in play. x.com
Bitcoin's 64% supply-in-profit reading makes $80,000 or below worth watching during the bear-to-bull transition. At the October 25 close of $80,086, it matched the 64% reading at $75,000 on September 15. Historically, below 65% marks a reasonable correction in this phase, and lower prices offer better value. A 55%-60% reading would be best, but it may never arrive. The low of this pullback from $87,000 is unknown. x.com
Bitcoin enters a liquidation phase this week that should dump it below $75K into major fair value gaps. A liquidity cluster is building at $87K and a sweep of it is a matter of time. The projected path runs $85K, $75K and $70K, then a long confirmation and a move to $100K. The best opportunity to buy Bitcoin should come this month. x.com
Bitcoin may see more flushing of leveraged longs before it continues higher. The warning came at $85.3K; since then, per a market alert, $325M of leveraged crypto longs were liquidated in 30 minutes as BTC fell below $82,000. x.com