It was an epic collapse, it happened so fast… Bitcoin fell more than 50% off of record highs and showed many weaknesses. Like any good sell-off, it triggered margin calls. A reported $8 billion worth of liquidations was triggered as the price fell early yesterday morning.
Many crypto exchanges were overwhelmed and buyers were unable to get their orders in. Myself in included. Luckily I maintain many accounts and was able to buy at $32,000 (missing the bottom near $30K by seconds).
This morning it’s trading near $40K, but altcoins are hurting. I’m still a long-term bitcoin bull, hence the buying. I’ll buy more if we reach $15K. I don’t have much faith in altcoins. Small speculative positions only on those…
Stocks saw selling again. Markets are in summer mode. Not much to see or do there. Short list today… Gamblers got hit hard yesterday.
OTC (on watch, no levels):
HTZGQ, TAWNF, GGII, HMBL, HSSHF