In this video, we break down Bitcoin on the 1hr chart using Elliott Wave Theory. You’ll discover both bullish and bearish scenarios, plus the critical price levels and targets to watch. Video by Koenz Trading.
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$83,700 following a wave of broader market liquidations. The primary driver behind today's price decline is a cooling appetite for risk assets, spurred by a global bond selloff—with the U.S. 10-year Treasury yield racing to 24-year highs at 5.3%—and spiking geopolitical tensions that have pushed Brent crude oil prices above $101 a barrel.
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Bitcoin Insights Today
• $487 Million Liquidation Wipeout: The correction below $84,000 triggered heavy forced selling across digital-asset venues, invalidating more than $487 million in leveraged long bets within 24 hours. This has put a popular "viral prophecy" targeting a $250k valuation under heavy scrutiny.
• Robinhood Adds $25 Million in BTC: Countering the downward momentum, corporate treasury adoption continues to show signs of health. Robinhood disclosed a new $25 million Bitcoin purchase to its balance sheet today.
• Institutional Target Cuts: A wave of corrections from banking giants has emerged; Standard Chartered, Citigroup, and Bernstein all revised their long-term Bitcoin price targets downward, with Standard Chartered adjusting its current outlook to $100,000.
• Arthur Hayes' Macro Thesis: In macro news, BitMEX co-founder Arthur Hayes made headlines at the Gamma Prime Investing Conference, asserting that the multi-trillion dollar AI infrastructure buildout will inevitably overexpand and crash. He predicts the resulting central bank bailouts and economic shifts will eventually trigger a massive capital flight into Bitcoin.
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