Caught the crypto selloff yesterday and it was wild -- Bitcoin pumped to $79,480 then got absolutely rejected at the $80k level, dumping back to $77.8k in like an hour. Currently hovering around $77.6k. The whole thing started when US markets opened, which is always when things get spicy.

What's interesting is the oil situation made it worse. Brent crude jumped to $107 a barrel after Trump canceled those Pakistan talks, and that spooked the market big time. Oil and Bitcoin have been moving together lately whenever geopolitical stuff heats up, so yeah, that rally got killed pretty quick.

The liquidation cascade was insane -- nearly $300M got wiped out in 24 hours, mostly shorts that got caught in the initial pump. Those short covers actually accelerated the spike higher before everything reversed. XRP was wild too, open interest up 2.5% in a day.

What's holding Bitcoin back right now is that massive options wall at $80k on Deribit. Over $1.5B notional open interest on that strike, and the dealer gamma is positive, meaning market makers are probably selling every time we get close to breaking it. Makes it way harder for a clean breakout.

Altcoins got absolutely destroyed in the crypto selloff. LDO crashed 17%, SUI got hit hard especially after that Scallop hack on Sui (150k tokens, like $140k), and the whole smart contract index dropped 2.5%. Only bright spots were PENGU up 9%, JUP +4%, CHZ +3%. But yeah, altseason indicator is sitting at 39 out of 100, so broad participation is still pretty weak. Most of the gains are just Bitcoin carrying the market.