Morning Minute: Bitcoin Hit $75k After Weekend Washout
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Today’s top news:
The Weekend Bloodbath: Bitcoin Hits 9-Month Low as $2.5B Gets Liquidated
The bull hopium may have just run out.
What Happened
Bitcoin dropped more than 7% over the weekend, sliding from around $84,000 to briefly touching $75,500 (now back over $78,000).
The move pushed BTC below its True Market Mean ($80,500) for the first time in 30 months (the last time was late 2023 when Bitcoin traded at just $29,000).
This led to ~$5B in liquidations across the weekend, almost all longs.
Ethereum got hit hardest with $1.15B in ETH positions wiped out as ETH fell as much as 17% at one point.
Solana lost nearly $200M in liquidations and also lost its $100 handle.
So what caused the dump?
But overall, it seems like the simplest explanation is that the crypto 4-year cycle is simply playing out again.
What They’re Saying
“Bitcoin topped on apathy and has had a slow bleed. Silver topped on euphoria and had a sharp correction.
Good to understand market behavior after different types of tops.” - Benjamin Cowen
Why It Matters
This is the largest liquidation cascade since October 10, when $19B got wiped in a single day.
The difference?
October 10 sparked conspiracy theories about Binance and broken market structure.
This time, the culprit is less clear but may simply boil down to: too many longs, not enough buyers.
The irony?
While prices tumble, the institutions are still building.
Coinbase found that 71% of institutional investors believe BTC is undervalued between $85K-$95K, and 80% said they’d hold or increase exposure after a 10% decline.
So where does this leave us?
My gut read is it gets worse before it gets better. I was a staunch “4 year cycle” denier, but the evidence is piling up on the other side. Bitcoin and majors look like they’re in a bear market trend.
We will likely know more by the end of this week…
Macro Crypto and Memes
What Trump’s Fed Pick Kevin Warsh Means for Crypto
Corporate Treasuries:
Meme Movers:
This article has been published in decrypt.co via Yahoo News.
