And just as everyone was waiting for President Trump to throw yet another unfiltered zinger, Armstrong dropped a digital bomb about Bitcoin sticking its nose where it’s usually not welcome-the world’s elite money closets.
Even though both assets saw a decline, the quality of that move and what came next are far more important than the actual red candles. The majority of the pressure was absorbed by Bitcoin. Short-term structure was broken and the price was forced to heavily rely on the $90,000 support zone as a result of a severe sell-off that drove Bitcoin back toward the lower end of its local range. Bitcoin’s had a bit of a meltdown, really.