Gm ☕️

BTC broke below 63k overnight, trading around 63k now. Fear index at single digits, 22 consecutive days in extreme fear. ETF outflows at 3.8 billion over the past 5 weeks. 468 million liquidated in the last 24 hours, 93% of that longs. The trigger was Trump's 15% global tariff announcement plus the Iran situation escalating again. Macro selling across the board, Nasdaq down, S&P down, risk assets getting dumped. Crypto follows.
The 60k level I've been watching is now the line that matters. If that holds we're still in a range. If it breaks, 53k area is the next real support and that's a long way down from here. I'm not buying this dip. Not yet. There's a difference between a level being tested and a level holding, and I want to see the reaction at 60k before committing capital. Thin order books mean price can move fast in both directions, and catching a falling knife in this environment is how accounts get destroyed quietly.
As I’ve noted repeatedly, the SPX appears overextended and could be due for a more prolonged pullback. Based on the current crypto setup, it would probably move in the same direction.
Flat. Watching. Will update if structure changes.