BTC pulled off a deep V-shaped reversal today, plunging to $61,000 before being yanked right back to $66,000. The buying pressure was genuinely fierce. Bitcoin briefly plunged to around $61,000 intraday. Many were still waiting for it to keep crashing, but in the blink of an eye, the price had been pulled back to $66,000. The rebound was so fast it made you wonder if you were seeing the chart right. ETH, SOL, and XRP played out the same scenario, with clear buying support at the lows—buyers stepped in as soon as prices fell. $BTC WICKED down to $61,946, then shot straight back up to around $66,000 $ETH Dropped to $1,710 before quickly reclaiming $1,790, with buyers clearly stepping in SOL: Hit a low of $67.37, then climbed back above $70 $XRP Plunged to $0.891, then rebounded to around $0.95 OneKey founder Yishi has a point that I think makes a lot of sense—the market prices in consensus expectations for the future, not the pessimism left over from yesterday. I agree. But I don’t think anything has changed in the fundamental consensus around BTC, ETH, SOL, and XRP. Didn’t we get through 2015, 2018, and 2022 the same way? There’s no need to declare the industry doomed every time prices fall. Honestly, a pullback of this magnitude makes me more willing to take a serious look at spot. The market has already absorbed a lot of the decline. If you were already bullish on these assets, building a spot position in tranches beats waiting for prices to rise again and kicking yourself. Buyers stepping in at the lows shows that the market is nowhere near as bad as the sentiment suggests. Risk warning: The above is only my personal opinion and does not constitute investment advice. The crypto market is highly volatile, so please manage your position size carefully.

Weekend outflows continued, and the weak market environment showed no improvement, with no signs of a short-term bottom yet. Bitcoin continued to swing around $67k, the Fear Index fell to 13, and AMD gave back all of Thursday’s gains on Friday, leaving market sentiment cautious. $XRP is currently trading at around $0.9816, down 4.52%, and fluctuating intraday between $0.98 and $1.0437. It briefly reclaimed the $1 level but has since fallen back below it. Support is at $0.98, with resistance at $1.027/$1.0437. Only a move back above $1 could ease the current weakness. $BNB is currently trading at around $615.22, down 2.8%, with an intraday range of $612.65-$649.8. Support is at $612.65/$600, while resistance is at $632.92/$649.8. It remains weak and is fluctuating below $630. $DOGE is currently trading at around $0.06263, down 3.12%, and moving between $0.0621 and $0.06662 intraday. Support is at $0.0621/$0.06, while resistance is at $0.06494/$0.06662. The price remains weak amid continued selling by large holders. Personal view: Weekend liquidity is thin, so there is no need to rush into buying the dip at round-number levels. Watch closely to see whether XRP can reclaim $1 and whether Bitcoin can hold above $67k. Risk warning: The above is for market observation only and does not constitute investment advice. Crypto assets are highly volatile; please make decisions cautiously.

#BitcoinDropsBelow$70K #比特币跌破7万美元 #WCTCS9 Bitcoin plunges below $65,000 overnight! Down 14% in a week—where’s the bottom? $65,000 isn’t just an ordinary round-number threshold: Bitcoin was still above $75,000 on November 7, and lost nearly a sixth of its value in a week. CoinDesk’s figures show it fell 13.5% over the past week, hitting its lowest level since mid-August and a three-month low. The timeline makes it clear how the decline unfolded. First, on Thursday, Nvidia CEO Jensen Huang resigned, sending AI stocks sharply lower and dragging Bitcoin below $72,000 that day; on Friday, it briefly fell to $67,500, then rebounded to around $69,000 but couldn’t hold there; trading volume was low over the weekend, and selling quickly intensified, with Bitcoin breaking below $65,500 on Saturday night and failing to hold $65,000 early today. Why the drop? First, the most direct factor: U.S. spot Bitcoin ETFs have been seeing persistent outflows. On November 13, they recorded net outflows of $185 million in a single day, marking seven consecutive trading days of outflows and a cumulative $1.91 billion; BlackRock’s largest ETF saw more than $2 billion in outflows over nine trading days. These ETFs were the biggest buyers over the past two years. Now that buyers have turned into sellers, there are suddenly far fewer people willing to step in. Next, leverage and the broader environment. CoinGlass data show $1.47 billion in liquidations across the market over the past 24 hours, most of them bullish long positions. When prices fall, traders who borrowed to go long are forced to liquidate, and those liquidations push prices down further. Meanwhile, U.S. October CPI came in above expectations, producer prices rose 6.5% year over year—the biggest increase since November 2022—and the market has largely priced in a Fed rate hike in December. The 10-year Treasury yield surged to 5.17%, while the dollar hit a 19-month high. Analyst James Check says this is Bitcoin’s fourth “capitulation” since its all-time high. The current price has entered what he calls the “deep value zone”; the previous times were in February and late June this year, and before that, near the end of the 2022 bear market. Many sellers had chased the rally above $80,000 in September and are now selling at a loss at prices they once hoped to buy at. But he also cautioned that entering the value zone doesn’t mean the bottom is in. During this downturn, whales have accumulated about 47,000 BTC, while mid-sized holders have sold even more—some are buying the dip, while others are rushing for the exits. Ether is down 18% in a week, falling below $1,800; XRP is down 16.3%, and Solana is down 18%. The Fear and Greed Index has dropped to 15, its lowest level since June. Next, watch three things: the $60,000–$65,000 support zone, Nvidia’s earnings report next Tuesday, and the dollar and Treasury yields. $BTC ‌