A post by @KobeissiLetter on X.

Bitcoin dropped below $66,000 and ether fell under $1,850 as roughly $215 million in leveraged positions were liquidated within a single hour, according to The Kobeissi Letter. The move marks one of the crypto market's most severe weeks of the year, with the simultaneous breaches of those price levels underscoring how quickly forced selling can cascade across major tokens. The scale of the liquidations matters because it signals heavy leverage buildup being flushed out, which can amplify price swings in both directions. Traders will be watching whether bitcoin holds the $66,000 area and ether stabilizes above $1,850, or whether further deleveraging extends the selloff.