Strykr Analysis
BearishStrykr Pulse 30/100. Massive liquidation and technical breakdowns dominate. Threat Level 5/5.
Bitcoin’s weekend meltdown is the kind of gut punch traders dread. $BTC plunged below its long-term cost basis at $76,000, hitting a nine-month low and triggering a brutal $2.6 billion liquidation. The market wiped out a whopping $200 billion in crypto value as panic selling spread across major tokens like ETH and XRP.
The catalyst? A perfect storm of liquidity drying up, miners throttling back due to US winter storms (hashrate down 12%), and veteran trader Peter Brandt warning the correction isn’t over, targeting a grim $58,000 next stop. Meanwhile, XRP’s ledger activity hit record highs even as its price painted ominous “number of the beast” patterns.
Strykr Pulse 30/100. This is a full-blown risk-off event in crypto, not a garden-variety pullback. Threat Level 5/5. The market is testing critical support levels and trader conviction.
Strykr Watch
$76K support on $BTC, $58K next major downside target. This is a brutal reset, not a dip to chase.
Sources (5)
Bitcoin tests long-term cost support at $76K – Market bottom?
Bitcoin's weekend dip breaches the $76K Cost Basis, exposing a liquidity-driven market reset.
Here's Why Bitcoin And The Crypto Market Are Crashing This Weekend — Details
Bitcoin and the general cryptocurrency market have continued their struggles, as prices took a nosedive this weekend. On Friday, January 31, it seemed
Brandt Calls $58K Next Stop for BTC
Veteran proprietary trader Peter Brandt has warned Bitcoin bulls that the cryptocurrency's current correction is far from over.
$200 Billion Gone From Crypto Markets as BTC, ETH, XRP Tanked on Saturday: Weekend Watch
HASH and WLFI are among the poorest performers, while HYPE is actually in the green daily.
Bitcoin Hashrate Falls 12% After US Winter Storms Hit Miners
Bitcoin mining activity has suffered its sharpest setback in four years after severe winter storms forced large operators to scale back production.