Bitcoin crash wipes out ETF and BTC derivative positions. Millions $ unwind.

BITCOIN (BTC)  mania run has come to an end, for the 2nd time in Two years.  As the price has fallen through its 64000 price support on its way to 60000, which was BTC's psychological resistance.  With institutional investors, Hedge Funds cutting all their long positions, including the BTC ETFs that assisted in shooting BTC into extremely overbought territory, and you can thank BlackRock for this.  The issue is whether the plethora of unregulated Crypto/BTC exchanges can hold up as they are heavily leveraged, derivative products, aimed solely towards the retail investor, begin to liquidate en masse.  Which is occurring now.  

Price supports:  60,000, 51600 

BTC needs 'smart money' to buy in for it to avoid falling to $60,000.  Of course pending the Federal Reserve  supporting the U.S. Dollar with higher yields, since inflation has returned.

So, be wary of the Bitcoin bull trap. 

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Please refer to my analysis prior to the BTC crash:  March 11th, 2024.  "BITCOIN IS SO OVERBOUGHT, IT IS ALMOST BEYOND WORDS. ALMOST..."