Dear God.
Here I was thinking we would get a nice calm Friday evening.
Crypto just experienced a seismic sell off. Truly one of the most insane things I have ever seen in markets.
Just a vicious diabolical evaporation of money in minutes that blew out infrastructure, liquidated longs, and fried all the exchanges order books in seconds.
CRG on X tracked the rough ranges:
Bitcoin: -23% Ethereum: -28% Solana: -32% all in under an hour.
Some are saying it was the biggest liquidation event in 5 years while others are saying it was the biggest one ever.
Alt coins were absolutely shish kabobbed with some dropping as much as 60% in minutes. Twitter corrupted into a panicked frenzy.
Accounts are posting left and right that they've been liquidated and are entirely finished.
Even for someone who’s been in this market for 7 years this was one of the most insane things I have ever seen lmao. President Trump announced new potential China tariffs which spooked legacy markets into a sell off towards the early afternoon, but crypto had a lagged reaction until early this evening.
Even seasoned crypto traders and veterans that I know were rattled by the severity and the speed of this selloff, even though we've come to expect such events in the space. For those of you that are relatively new to the space. This quick post will give you a rundown of what to expect moving forward and some insight into the inner workings of what happened.
For veterans or those of you that have been around longer I will walk through exactly what I am buying on this dip and what my strategy is moving forward through the end of the calendar year.
The truth is over the longer term these opportunities present rare opportunities to go against the herd and buy while paper handed softos are screaming and panicking like a little girls.
Like Rick Ross said scared money don't make no money.
Let's get it.
What Just Happened?
I need to go have a few drinks so let’s keep this quick and to the point kings. That was fucking insane. Just BODIES stacked on top of each other as people got blown out of their leveraged longs and illiquid meme coins.
The battlefield is covered in corpses, some of them are new retail noobies who aped the top and others are whales who got too cocky and dialed up the leverage.
But all anyone really wants to know now…..
Is if the bull market over. Do I think it’s over?