Bitcoin Liquidation Cascade & Macro Stress
BTC fell below $82k triggering $120M+ in long liquidations in minutes, with an additional $500M wiped in perps. Traders are split on whether this is a bear trap or the start of a deeper correction ahead of CPI, while weekly MACD has flipped positive for the first time in 44 weeks.
What we know
An account on X flagged BTC dropping under $82k with $120M in longs liquidated in 15 minutes, followed by another $500M wipeout in perps. A 5B+ liquidation cluster sits at $87k. Another account on X warned that late longs are paying the price and best setups were at 60-72k. Another account on X flagged week 9 of the alt cycle as the point alts shift from distribution to breakdown. Contrarian bulls point to the weekly MACD flipping positive for the first time in 44 weeks and a cup & handle pattern targeting $105-106k. Another account on X called it a 'Bear trap — Bookmark it,' while another account on X expects capitulation then reversal by morning. Another account on X added macro context: S&P earnings yield vs 10Y spread is at its lowest since 2009.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.