Bitcoin Just Wiped Out The Bulls
Scott Melker breaks down Bitcoin wiping out Wednesday's short-squeeze bounce as longs get liquidated with Nasdaq's biggest drop since 2020, then runs the Weekly Reckoning on midterms, crypto regulation, and exchange hacks. Scott covers Bitcoin retesting the weekly 50-day moving average as support while tech sells off, the VIX spike and leveraged ETF unwind behind the move, CFTC stock-perp pushback in court, Fed and OCC bank checks after the Binance hack, Asia's circuit-breaker selloff, and Canary's staked Injective ETF debut. The Weekly Reckoning recaps the Democratic midterm sweep, the SEC's crypto FAQ on governance, Mercado Bitcoin's breach, and Moscow Exchange listing Bitcoin. In this episode:00:00 Bitcoin longs squeezed after the short squeeze02:12 Weekly chart retests the 50 MA as support06:24 Leverage ETFs and a historic VIX spike11:28 CFTC stock perps challenge and judge update13:35 Asia selloff and Canary's Injective ETF17:32 Weekly Reckoning: Fed, midterms, SEC FAQ Watch this episode on YouTube: https://www.youtube.com/watch?v=y0SjcqQPdpA If you enjoyed this episode, follow the show and leave a rating. It helps more than you know. Follow Scott Melker:Watch on YouTube: https://www.youtube.com/@ScottMelkerFollow Scott on X: https://x.com/scottmelkerThe Wolf Den newsletter: https://thewolfden.substack.comThe Daily Wolf on Yahoo Finance: https://finance.yahoo.com/videos/series/daily-wolf/ Learn more about your ad choices. Visit megaphone.fm/adchoices