Bitcoin’s About to Crash – And I’m Not Even Surprised 🤷‍♂️

by

So, Bitcoin (BTC) decided to go up 5.01% on Wednesday, hitting a daily high of $86,990. Big deal. 🙄 After weeks of doing absolutely nothing, it finally moved. But guess what? Futures data and liquidation heatmap models are like, “Hold my beer, this party’s over soon.”

Let’s dive into this mess and see why Bitcoin’s probably about to take a nosedive. Because, honestly, what else is new?

Bitcoin Went Up 5%, But Let’s Be Real – It’s Gonna Crash

Bitcoin rose 5.44% on Wednesday, March 19, from a low of $82,501 to a high of $86,990. Wow, groundbreaking. 🎉 It even swept the previous weekly high of $85,270. As long as BTC stays above this level, the bulls might keep it afloat. But let’s be honest, that’s a big “if.”

Now, the liquidation heatmap model by CoinGlass is like, “Hey, this rally? Yeah, it’s probably fake.” During Wednesday’s price rally, the liquidity to the upside was swept. Now, the heatmap shows three key liquidity levels to the downside – $85,000, $81,000, and $77,618. Combined, these levels have over $3 million in liquidity. If Bitcoin can’t stay above $85K to $84K, it’s gonna be a bloodbath. 🩸

And here’s the kicker – the recent 5.01% rally was mostly driven by Perpetuals, not Spot buyers. Spot buyers are usually patient, but perpetual traders? They’re just in it for the quick buck. As these perpetual traders unwind their long positions, Bitcoin could crash faster than my last relationship. 💔

Oh, and the Spot buyer CVD is dropping since the peak a few hours ago. Translation: spot buyers are selling. So, yeah, a bearish reversal is looking more likely than me actually enjoying a family gathering. 🐻

With key events like the interest rate decision and Fed’s FOMC meeting behind us, the crypto markets are probably just gonna do what they do best – either go up or chop around like a bad sitcom. 🎬

Read More

2025-03-20 11:08