Post
taishiro
The Nasdaq connection is important here because it puts the sell-off into a broader macro context. Crypto wasn't selling off in isolation. When tech stocks come under pressure, BTC often feels it too, especially when leverage is already elevated.
The $370M in long liquidations within an hour explains how quickly that pressure escalated. ETF inflows can provide some demand, but they cannot immediately offset aggressive forced selling in the derivatives market.
ARRIWYKS
Thank you for the breakdown. The correlation between Nasdaq and BTC here is the key point this was a broad risk-off move, not a crypto-only event. The data-center concern is plausible, but it is still a forward-looking fear, not yet a confirmed policy outcome. What turned a dip into a sharp drop was leverage: $370M in longs liquidated in about an hour, with late longs from the prior squeeze exiting first. The $74.6M ETF inflow helped, but could not absorb that pressure. Watching $75,000 support.
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