Latest crypto market crash update: deep insights on historic liquidation, dominant coins, Bitcoin support, portfolio pitfalls, and strategic analysis for holders of VET, HBAR, BTC, XRP, ADA. Vital market tips for all crypto investors.
CryptoZX Army: Market Analysis Update
Welcome back… Um, and again, you guys absolutely loved the update that I, you know, brought for you guys yesterday, kind of, you know, going in depth, uh, talking about the broader market as a whole. If you guys are enjoying those updates, let me know in the comments and we will make this a daily occurrence. So uh again at this point you guys know what happened and um I think it’s going to be talked about a lot of times as you do go into the future. Uh that liquidation has gotten literally mainstream media talking about what happened with the crypto side. I personally don’t think it would have uh had that type of reaction to the tariffs but there is clear manipulation happening behind the scenes. Uh, and as of now, you know, we’re seeing some coins, you know, still rebounding, but there are other things and other areas we need to be focusing closer on. Uh, so I’m going to obviously get into that right now.
Red Market Overview and Financial Disclaimer
So, if you’re looking across the board right now, still a lot of red. But before we get into any further, as always, just a quick disclaimer. Anything on this channel is not financial advice. Always do your own due diligence and research when you are investing in crypto.
Surprising Crypto Standouts: Zcash, Binance Coin, Tron
So, some coins, you know, picking up, you know, Zcash like seems to be just going on an absolute like, you know, tear. I don’t even know what in the world’s going on with Zcash. Um, doesn’t seem like it even reacted to that. And there are a few coins which is very interesting that barely budged um, you know, during this retracement. Zcash is one of them. You know, Binance coin is also one of them. You could see, you know, Binance coin held one of the best ways possible. And of course, Tron as well. Again, very interesting things going on. what’s causing these coins to hold so much better than uh you know the broader market because everything reacted.
October 10th Crypto Liquidation Breakdown
But let’s take a look at this. So the more you learn about um you know the October 10th crypto liquidation, the crazier it gets. So first crypto began selling off at 9:30 a.m. Eastern time, well before the first tariff post at 10:57 a.m. Eastern time. At this point, many whales quote unquote were already loading shorts in anticipation of a big drop. Then at 4:30 p.m. and 4:49 p.m., a whale purchased over 23 million of shorts. Where it gets even more crazy is that longs are liquidated at a 7:1 ratio to shorts, also historically high. This means that vast majority likely 80% on the 1.6 million trades were liquidated uh were leveraged long. the whales um you know then promptly sold short into the 5:20 uh p.m. Eastern uh time you know bottom just 30 minutes later as volume crushed longs. Volume was so strong that it led to the first ever 20,000 candlestick in Bitcoin uh you know which is a 380 billion drop in market cap before a V-shaped bottom as shorts were closed.
Largest Liquidation Ever: Aftermath and Investigation Calls
Not only was this the largest liquidation ever, it was nine times the previous record. This event will be referenced for years to come and people want answers. You know, people want this investigated especially that new account that was created on Hyperledger. Um you know people want to know what’s really going on here because um again yes market is going to react when Donald Trump comes out and you know imposes tariffs but not to this extent. There was more to it.
Market Update for All Holders: Altcoins and Dominance
But let’s take a look at what’s happening with the market. So whether you’re holding Solana, you know, XRP, ADA, whatever the case may be, this applies to you because this again is a market analysis update. So as I talked to you guys about it yesterday, we did come down to 60% for the dominance, which is a support uh for the dominance, you can see it picked up again, you know, went up to 60.78% not too long ago. So you know, showing strength.
Bitcoin Chart Analysis and Key Levels
But going back to what I talked to you guys about Bitcoin, if you watch my, you know, market analysis update, let’s take a look at Bitcoin on an hourly perspective. I talked to you guys about how I have a feeling obviously this is a long weekend. If you’re here in North America, it is a long weekend. So markets are going to be closed. Crypto is always obviously trading, but traditional markets are going to be closed uh on Monday. So if you’re looking at the Bitcoin price here, you could see for yourself, you know, BTC is still ranging within the 23.6 fib zone. I told you guys, don’t get overly excited because usually when you do tend to see wicks like this, most of the time you do try to see Bitcoin or any asset try to fill that wick. And I personally think that is already starting to show because if you’re looking at the price of Bitcoin, we retested the 23.6 two times. We broke below uh the 23.6 briefly, but we’re able to, you know, bounce back up very quickly.
Bitcoin Support: Critical Ranges and Bull Market Status
This $111,000 is such an important level for Bitcoin. guys don’t understand. Uh, and as of now, you know, the bulls are trying their best to keep the price here. But I still do believe that there is a very strong chance Bitcoin comes down to 107,000 or potentially even filling this wick down to 102. That’s still on the table. Again, if you want to put this into perspective, dropping below the 23.6, that itself is about a 7% move. And I still think there is a possibility, unless of course, you know, we’re able to reclaim back above $122,000. we could be having a different conversation. Uh but if this happens, I personally think dominance also is going to start, you know, filling the wick, which is going to cause altcoins to, you know, retrace a little bit more. I personally still think, you know, bull market is not over. Yes, this was a big liquidation. This has shaken out a lot of retail out of the market.
Portfolio Advice: Spot Holding vs Leverage Risks
Unfortunately, that’s the, you know, how the market tends to work. I know it’s very unfortunate, but this is why I emphasize on my channel to, you know, stay away from leverage trading platforms. Yes, your portfolio might be low right now. If you’re holding spot, yes, your portfolio might be down, but at least you did not get wiped out. You understand what I’m trying to say? There’s people there’s so many people in the crypto space that got their entire portfolios wiped out uh due to this major liquidation. So guys, make sure uh you are learning from this and make sure you are never trading on leverage uh because it’s so crazy to think that some people stop losses even did didn’t you know stop the this major liquidation.
Active Market Monitoring and Community Engagement
So again, right now the price of Bitcoin is by far nowhere near where we need it to be. Um again, going back to what I said, um my overall um you know, thoughts are that, you know, we do see Bitcoin try, again, it doesn’t necessarily need to fill itself, but it’s going to try, in my opinion, to keep uh you know, its price should try to go to this key range. So obviously, it’s something we want to be watching very, very closely.
Community Calls to Action
Make sure you guys are following me on X. I’m going to start using X a lot as I said in my previous videos. So, make sure you guys go link in the description box below, follow me on X, and we’re going to start communicating on there a lot. Uh, love each and every one of you guys. Thank you for all your support. Let me know in the comments what you guys think. Are you guys still buying? Are you guys still sidelined? Uh, me personally, I did say in my last video, unfortunately, I’m going to be quite transparent, I don’t have any more capital that I can deploy in the crypto space right now. Um, and that is that. You know, I’m happy with what I have right now, but I wish I did have more capital right now personally. But again, I’ll keep you guys updated. Let me know in the comments what you guys think. We’ll see you later. from CryptoZX and peace