Bitcoin News
By Bruce Buterin
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What Analysts Are Watching Now. Crypto analyst Michaël van de Poppe flagged Bitcoin's failure to clear $77,700 as a warning sign.
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Long Traders Take the Worst of It. The leverage data keeps coming back as the clearest measure of how badly positioned the market was.
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Bitcoin can't catch a break. On September 2, the cryptocurrency was hovering around $76,000 after renewed military exchanges between the United States and Iran rattled markets…
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The sequence of events was pretty brutal for bulls. U.S. military strikes in Iran triggered retaliatory action from the Islamic Revolutionary Guard Corps, and Bitcoin's price…
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Coinglass data put total liquidated leveraged positions at $110 million for Bitcoin specifically, with $91 million of that coming from long bets.
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Crypto analyst Michaël van de Poppe flagged Bitcoin's failure to clear $77,700 as a warning sign. Can't get above that level? Probably not ready for a full recovery.
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Intraday, Bitcoin moved between $77,283 and just above $78,000 on September 2. Tight range, but volatile enough to shake out anyone without a clear plan.
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See also: Bitcoin Plummets to $77,500 as U.S.-Iran Strikes and Rising Treasury Yields Roil Markets
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The geopolitical angle here matters more than it might seem. Bitcoin's August rally was basically built on macroeconomic narratives — U.S.
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The leverage data keeps coming back as the clearest measure of how badly positioned the market was. $91 million in Bitcoin longs liquidated. $276 million across crypto.
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But the short-term picture is still murky. Bitcoin's been swinging between $77,283 and slightly above $78,000, and every move feels tentative.
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It's worth noting what wasn't driving markets before all this. The August rally didn't have a geopolitical component. It was cleaner, more predictable in its logic.
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Related: Dollar Soars to 105.36 as U.S.-Iran Tensions Fuel Market Jitters
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Broader crypto markets felt it too, not just Bitcoin. The $356 million in total liquidations across 24 hours covered a wide range of digital assets, and the long-to-short ratio…
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Van de Poppe's $74,000 level is the one to watch if selling pressure picks back up. That's where he thinks real buyers show up.
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