Lets work out how this fiasco ends
Likely that 2-3b of assets are gone, for good.
Binance either has to rebuy on the open market (mostly BTC) which won't affect prices from direct buy pressure much, or it'll get a loan for those whilst chasing the losses, having no net effect.
The panic caused and dip forced BTC to tap into weekly EMA trends
I wouldn't be surprised by a wick fill here back down there to panic people more.
Ideally, that 76k area holds, and we build out value before going for high 80ks again later in November.
Alts reacted pretty favourably - quick wicks down and recoveries. OTHERS.D is still climbing, while BTC.D is dropping.
This might be complacency in the market, but a lot of 'good' alts were down 40-50% (top to bottom wick).
As we know, high risk gets jeeted first, so if BTC holds out here, alts are looking tasty to buy.
IF BTC loses 76k then things might get a lil ugly, but if you've been sidelined, sack up, buy some bags. Pussy.
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