BTC just slipped under the $85K mark. Not a pretty sight for the bulls right now.

The entire crypto market's feeling the heat. We're seeing red across the board—alts getting hammered even harder. Volume's picking up on the sell side, which never feels great.

This $85,000 level? A lot of traders were watching it. Break below could mean more pain ahead. Some are calling it a healthy correction. Others? Not so optimistic.

The usual suspects are weighing in: macro fears, profit-taking, maybe some overleveraged positions getting liquidated. Whatever the reason, portfolios are taking hits today.

Anyone still holding through this? Or did you take profits earlier? Market sentiment shifting fast.

BTC1.81%

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

11 Likes

Reward
11
9
Repost
Share

Comment

0/400

MevHunter

· 12-02 11:22

85K broke, so it broke. Anyway, I've already set my stop loss. Looking at those leveraged traders still holding on, it's laughable. --- Another "healthy correction"? I'm tired of hearing that, it's always the same rhetoric. --- Alternative coins are falling harder than BTC, isn't that a normal phenomenon? Weak coins should be washed out. --- With such heavy selling pressure, the bottom is still far away. I'll wait a bit longer to enter. --- Those who took profits are laughing, those still trapped should reflect. --- Who can predict macro trends? It's more reliable to follow the orders of large investors. --- Whether to hold or not is no longer important, the key is where the next rebound will be. --- I'm just watching this round of collapse, and my USDT is already prepared.

View OriginalReply0

PessimisticOracle

· 12-02 08:57

Did 85k break? I ran away long ago, don't want to watch it get dumped, let's talk after the rebound. In this terrible market, the leveraged players are probably going to take the hit, they deserve it. I really didn't expect such a small fall to start panicking, what about those who went all in before? With such heavy selling pressure, it feels like there's still more to fall... The short positions are celebrating, while we suckers continue to get played.

View OriginalReply0

memecoin_therapy

· 12-02 01:10

85k is broken, it's broken, anyway, I would have cut the meat a long time ago, and I'm comfortable watching others blow up

View OriginalReply0

OnchainDetectiveBing

· 12-02 01:08

Once 85K is broken, it's broken, anyway, I've long locked up my position. Seeing those brothers still struggling with leverage really makes my heart ache. If I had known it would be like this, I might as well have run early; now I can only wait for a rebound. The people over there in alternative coins are probably going to cry. Holding steady, let's see who can last till the end. Where will the bottom be? No one can say for sure. The sound of liquidation is coming again, it’s always like this. It's a bit annoying. Actually, this is the time when you can really see who understands and who is just following the trend blindly. $85K is not the bottom; I feel it has to drop further. If you are in the crypto world, you have to learn to maintain your mindset; you’ve seen enough storms. This wave is not a correction; it’s clearly a dump. Stop deceiving yourself. Those who hold are either brave or foolish, to be honest.

View OriginalReply0

GateUser-cff9c776

· 12-02 01:07

The 85K hurdle is essentially a perfect interpretation of the supply and demand curve—seller pressure is so great that it breaks the entire narrative, and we watch the floor price fall to a basement price [笑哭] This is actually Schrödinger's bull market, existing and not existing at the same time, until the moment you look at the Candlestick to determine... to be honest, those cutting losses and buying the dip are all gambling, just depends on who has more chips. The guys getting liquidated are getting Rekt over there; over-leveraging is no different from usury, and once the supply and demand reverses, it's Game Over. I haven't moved, just consider it a performance art exhibition, let's see if it can 10x.

View OriginalReply0

CrossChainBreather

· 12-02 01:04

85K has broken, now we're going to hear the "healthy correction" rhetoric again, really can't laugh. --- The screams of getting liquidated are ringing again, it’s always like this. --- I ran away long ago, watching the short positions celebrating, anyway, I’ve already taken my profits. --- The altcoins are dying even worse, my altcoin portfolio has already perished. --- Let’s see if 80K breaks, if it really does, that would be something. --- It’s the same show again, next time maybe no one will believe the word "correction" anymore. --- What’s the mindset of the frens holding now, can they still sleep? --- The macro worries come up every time, it’s really something. --- I’m just watching who still dares to say this is a buying opportunity, haha. --- The liquidation machine is about to start again, tragedy.

View OriginalReply0

SchroedingerAirdrop

· 12-02 00:59

85k broke and that's that, anyway I already reduced my position haha Here comes the "healthy correction" talk again, I'm tired of hearing it Who is still stubbornly holding on, probably losing a lot Those who get liquidated with leverage are really unfortunate, can't blame anyone but their own greed If it goes down, it goes down, just wait for the opportunity to buy the dip

View OriginalReply0

SybilSlayer

· 12-02 00:52

It has fallen below 85K again, I knew it would be like this... The leveraged traders are going to get liquidated again.

View OriginalReply0

GateUser-022c2d8e

· 12-02 00:47

Stay HODL💎

View OriginalReply0