Crypto Market Hits “Black Thursday”

In 24 hours, $1.4 billion was liquidated. Bitcoin fell below 60,000, and Ethereum lost 1,600. Over 200,000 people were wiped out in one wave.

The sharp drop was triggered by multiple bearish factors concentrated at once: high inflation weighing on risk assets, ETFs continuing to bleed, and options worth billions expiring—sparking massive hedging. The largest holders are all in the red, and the market also needs to watch for chain reactions. All the funds are rushing to trade AI—who’s still here to play crypto with you?

But after the sudden sell-off, technicals have already started showing oversold signals, and there’s a need for a short-term rebound. The next two days are a critical window: first, see whether an oversold rebound can hold sentiment; then, determine the next steps based on the rebound’s strength.

Remember: don’t bottom-fish during a sharp drop, and don’t chase highs during rebounds. Wait until the structure is confirmed before acting—it’s safer than guessing the bottom.

Tonight, PCE data will be released. Either it keeps things alive, or it delivers the final blow. $BTC $ETH $SOL