A severe red wave hit the markets as Bitcoin lost key support levels, raising traders' concerns about the next direction. Here are the details of what’s happening in the market now:

🌍 Geopolitical tensions: The hidden driver of the bleeding
Technical movements were not the only cause; political events played a central role:
Uncertainty factor: News of postponing the deadline for possible military action against Iran to April 6 contributed to investors adopting a very cautious stance.
Strains in the Strait of Hormuz: Global energy markets were affected by these tensions, leading to rising oil prices amid declining risk appetite in digital assets (Crypto) and US futures.
📊 Liquidation data: A crushing blow to long positions (Longs)
The derivatives market experienced a true "massacre" over the past 24 hours:
Massive liquidations: Total confiscated amounts reached approximately $697 million.
Loss concentration: The vast majority of these liquidations involved long positions (Longs) totaling $645.97 million, indicating that the market punished the optimistic traders expecting a quick rebound.
📉 Price performance of leading cryptocurrencies
Bitcoin ($BTC ): Fell by nearly 4% to around $65,928, its lowest in two weeks.
Ethereum ($ETH ): Dropped by 3.8% to settle around $1,984.
XRP ($XRP): Not immune to the bleeding, it also experienced a significant decline.
🔭 What are we waiting for now?
The market is currently in a "wait and see" phase. Monitoring the $65,000 level for Bitcoin is key; staying above it could offer a chance for a rebound, while breaking below might open the door to further declines.
⚠️ Warning: This information is for analysis purposes only and is not investment advice. Be sure to manage your risks carefully amid these high volatility conditions.