🔴😞 Market Analysis: 18-11-03
Crypto markets were gripped by high drama overnight, with Bitcoin tumbling below the $94,000 threshold for the first time since May—triggering a cascade of liquidations and twin waves of retail distress and institutional outflows. JPMorgan analysts weighed in, pinpointing what they believe is the nadir of the current Bitcoin selloff, while Harvard’s endowment signaled long-term conviction by dramatically increasing its exposure to a spot Bitcoin ETF, making it its largest public equity holding. The mood? Extreme fear, as the crypto sentiment index has sunk to its lowest score in eight months—but history reminds us, bottoms rarely form when everyone expects them.
Short term, the road ahead looks rocky. With liquidity still structurally thin post-October’s leverage wipeout, conditions remain fragile—minor shocks could send prices skidding anew. Yet, whales on major platforms appear to be quietly accumulating, and value-focused institutions are wading in, suggesting formidable hands are scooping up assets while the crowd panics. Opportunity glimmers in the panic: just as Bitcoin’s ‘death cross’ pattern in prior cycles has marked local bottoms, sentiment-driven shakeouts may be laying fertile ground for reversals—even as risks of another leg down persist.
- Bitcoin hovers near multi-month lows as fear pervades.
- Harvard’s ETF bet signals institutional bullishness.
- Liquidity fragile, but whales accumulate on weakness.