Supercycle They Say! Sentiment Hit Rock Bottom, BTC USD Touched $60K, ETH Under $2K
Supercycle narrative, once treated like gospel, took a serious hit as BTC USD slid all the way to $60,000 and ETH USD cracked below $2,000. Is this just another brutal shakeout or the moment the supercycle myth finally broke? Either way, BTC USD and ETH USD are now inseparable from rock bottom sentiment.
What made us feel the selloff sting is that we just don’t know where the fire comes from. No surprise rate hike, no exchange collapse, no overnight regulation hammer. The total crypto market cap just somehow dropped to $2.3 trillion after a sharp 7% daily decline, almost half of $4,2 trillion top.
More than $2.6 billion vanished in a single day, with realized Bitcoin losses hitting past black swan events. Long positions…
