With the utter destruction of the forever bull market narrative now being threatened on Wall Street, the other darling of unlimited free money from the globalist banking cabal is under some serious pressure this morning.
That’s right the new so-called “digital gold” aka, cryptocurrencies. As the Fed Turns, the drama created by decades of inept Federal Reserve policy makers is being blamed for this, the risks of an all out short term liquidation and retest of critical support levels at $30,000 for Bitcoin appears to possibly be in the cards.
As of 4:30 a.m. ET, here is a snapshot of the carnage:
The broader market basically says the same with the “dog” coins getting an early morning bath also:
30,000 had best hold this month on BTC or the carnage will quickly become a rout and the 12,000 support level becomes a hold or die narrative. Stay tuned as margin calls become the most abused term of 2022 if this keeps up.