Crypto retraces after a failed bounce as stocks sell off
Crypto gave back its prior-day gains after one of the worst stock-market days in history. Short-term BTC holders are mostly underwater, and traders disagree on whether the structure is intact.
What we know
Market Watcher says crypto structure is still clean despite the ugly candle, and a follow-up names a must-hold level. An account on X says about 60% of recent buyers' BTC is below cost basis, which lowers the risk of them selling into strength. Ansem says he is terrified of the majors price action. Another account on X quotes the VXX 30D ATM IV spike from 63 to 127.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.