Orbit: Crypto Community Feed
$BTC has fallen below 72000, and at this level, I'm actually hesitant to buy the dip.
This morning when I opened OKX and looked at the 4-hour chart, it was still a bit glaring.
It has dropped all the way down from around 81199, now reaching 71472, with a low of 71200. The previous rebounds failed to reverse the downtrend structure, with each high lower than the last.
The price is now even below the lower Bollinger Band.
Many people might think at this point: it has dropped so much, it should rebound, right?
But what I am most cautious about now is this kind of thinking.
Oversold does not mean the bottom is immediately reached. In a weak market, the price can continue along the lower Bollinger Band, and the real trouble is after bottom-fishing, the market hits you with a big bearish candle.
The news also hasn't given the market much breathing room.
The US October CPI rose 0.4% month-over-month, higher than the market expectation of 0.3%, clearly heating up expectations for a Fed rate hike in December. Meanwhile, spot BTC ETF funds continue to flow out, and institutional buying has not yet provided strong enough support.
Another detail worth noting: recently market liquidity has thinned, but leveraged positions have not significantly decreased. Under this combination, once concentrated selling occurs, prices can be quickly broken down.
My thought is simple: don't try to guess the bottom first; wait for the market to give a signal. Even if a rebound comes, don't rush to chase it; at least see if there is sustained buying support.
Trading doesn't mean catching every dip. Doing one less trade might be more profitable than making a wrong one.
This Nvidia situation is far more complicated than it appears on the surface. Jensen Huang directly resigned from his CEO and board positions, and the former CFO stepped in temporarily. This is not a normal handover but a cornered move. With chip export compliance, information security controversies, and the Department of Justice antitrust investigation forcing Huang to testify before Congress, it shows Nvidia is deeply caught in regulatory turmoil.
Looking at the market reaction, the stock closed down 4.3%, but it recovered significantly from the intraday low. This indicates that although the market is panicking, investors believe the CFO takeover can temporarily stabilize the financial situation, so there was no direct crash. But the core risk lies in "strategic continuity." Huang is the soul of the entire AI computing empire; his sudden departure poses huge revaluation risks to the upstream and downstream supply chains and future technology roadmap.
The overall environment is already pessimistic. The US dollar hit a 19-month high, interest rate hike expectations are firmly suppressing the market, and US tech stocks are already bursting a bubble. Nvidia, as the AI leader, having its key figure in trouble directly triggers a collapse of confidence, dragging the crypto market into a bloodbath. Bitcoin fell below the 70,000 mark, a perfect resonance of macro and micro negative factors.
In terms of trading, absolutely do not be the bag holder. This black swan event of a core figure resigning combined with heavy regulatory pressure requires time for sentiment to digest. If you hold related long positions, reduce your holdings during intraday rebounds and manage risk accordingly. Don’t bet on any miracles from the upcoming testimony. Wait until this panic selling is fully released and the market stabilizes on the right side before reconsidering. At this point, preserving capital is more important than anything else. $NVDA $XNVDA #英伟达宣布黄仁勋辞去CEO职务
I hope to reach 14000u by the end of this year. All my skills are learned from watching the live streams of teacher Lvmao @币圈游龙之天才绿毛
