Bitcoin’s Midlife Crisis: $98K Support Shattered, $1.1B Liquidated – Bear Market or Bad Hair Day?

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What to know:

  • Half the liquidations were from bitcoin positions-because nothing says “confidence” like selling your crypto like it’s last-minute Black Friday shopping. 🐻
  • ETH dropped 9% in 24 hours, while AAVE, JUP, and SUI lost double digits. Tokens slumped to lows not seen since… well, probably your ex’s last birthday party. 🎉
  • Zcash and Monero rallied-ZEC up 1,000% since August. Who knew privacy coins were just waiting for us to rediscover libertarianism? 🧐

The crypto market is currently undergoing a test of endurance, which it might fail spectacularly if it keeps this up. Bitcoin broke below $98,000 in a low-liquidity environment, proving even digital gold can’t sparkle in a bear market. 💸

Over $1.1B in liquidations later, and the altcoin sector is having a group therapy session. Ether’s 9% drop? Just a warm-up for the real drama. 🤯

Crypto’s plunge coincided with equities’ nosedive. Nasdaq futures lost 2.95% in 24 hours-because why have one financial crisis when you can have two? 📉

Derivatives positioning

By Omkar Godbole

  • Bitcoin’s 30-day implied volatility index spiked to 50% but fell to 47.8%-still high enough to make your therapist charge extra. 🤯
  • No panic buying of options, which is either a relief or a sign everyone’s too broke to care. 🤷
  • Ether’s volatility indexes are equally unimpressed. Open interest in futures is flat, while most tokens’ OI dropped 5%-because capital outflows are the new black. 👠
  • ETH futures’ premium hit 4.26%, the lowest since April. BTC’s still elevated above 5%-because nothing says “confidence” like being the only one left standing. 🏆
  • Put spreads and risk reversals on Deribit? Sounds like a casino night for crypto derivatives. 🎰

Token talk

By Oliver Knight

  • The altcoin market was decimated by a low-liquidity sell-off. ETH slid 9%, and tokens like Aave lost 10%-because nothing says “fun” like watching your portfolio cry. 😢
  • Over $1.1B in liquidations, with $510M from bitcoin. CoinGlass must’ve had a banner day. 🎉
  • Altcoins are now at multi-month lows. Aave’s trading at May levels, and ETH is July-chic again. 🕶️
  • If Bitcoin can’t reclaim $98,000, we’ll confirm a downtrend and potential bear market reversal. October’s high of $126K? That’s now a memory. 🕳️
  • Zcash and Monero were the only ones smiling-ZEC up 1,000% since August. Investors are back to “libertarian politics over speculative gains.” Who knew? 📜

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2025-11-14 14:31