Bitcoin takes out a technical level after busting below 100k

Yesterday an update here noted that further US stock market losses (especially in the Nasdaq) might cause an exit in long BTC trades. Well, that is pretty much what happened. The Nasdaq 100 fell back despite opening higher and later closed lower again. There will be more to add on that index later. So, the further losses in the tech sector did seem to cause a corresponding liquidation of BTC positions. Once BTC took out 100k on the downside, the move lower extended towards 95k, after it busted below its 21 day moving average (right now at 99,595) for the first time since December 11. Clearly this was forced liquidation and there could be more of the same, unless buyers once more come back on the dip. BTC hit a low late yesterday evening at 95,564. Earlier today it rebounded to a high at 98,349, but since then it has been tracking lower again, after failing to get back above that 21 day moving average. The low seen so far this morning has been set at 95,885. BTC is currently at 96,405