Tsunami Warning Has Traders Watching for a Repeat of the 2020 “Panic Sell” in Crypto
Main Idea
A tsunami warning following a massive earthquake near Russia's Kamchatka Peninsula has raised concerns about potential panic selling in the crypto market, similar to the 2020 COVID-19 crash, though on-chain data suggests the market is not currently overheated.
Key Points
1. The BTC/USD pair is consolidating in a bullish flag amid fears of panic selling due to a tsunami warning triggered by an 8.7 magnitude earthquake near Russia's Kamchatka Peninsula.
2. The 2020 COVID-19 pandemic caused a 37% drop in Bitcoin's price in 24 hours due to panic selling, raising concerns about a similar reaction to the current tsunami warning.
3. On-chain data from CryptoQuant indicates the crypto market is not overheated, unlike before previous corrections in 2024 and 2025.
4. The U.S. Federal Reserve's upcoming rate decision, along with statements from the Bank of Canada and the Bank of Japan, adds to market uncertainty and could influence capital flows.
5. Daily cash inflows to U.S. spot Bitcoin and Ether ETFs may be affected by these combined macroeconomic pressures.
Description
The infrastructural impact of the Pacific Tsunami in the next 24-48 hours will influence the crypto volatility. The crypto market has been anticipating higher volatility amid the Fed’s FOMC statement later today. The BTC/USD pair has been consolidating in a bullish flag amid fear of panic selling. Official agencies have issued a tsunami warning for the Pacific coasts of the United States, Japan, and other regions following a massive 8.7 magnitude earthquake near Russia’s Kamchatka Peninsula. The...
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