Are We in Bear Territory?
This week DESTROYED the bulls. What was supposed to be a post-options breakout to $100K turned into a MASSACRE. Bitcoin crashed through EVERY support level like tissue paper. The 100-week moving average at $85K? GONE. The November low at $81K? TESTED. We're sitting at the edge of the abyss, and it gets WORSE below here.
Here's what triggered the apocalypse:
1. MICROSOFT EARNINGS BOMB: Microsoft reported slowing cloud growth, stock dropped 11% (worst day since March 2020).
2. $1 BILLION IN ETF OUTFLOWS: In a SINGLE SESSION, Bitcoin and Ethereum ETFs saw $984M exit.
3. GOLD'S WHIPSAW: Gold spiked to $5,600 (all-time high), then CRASHED 10% to $5,200 in MINUTES.