DEGENDEN #?? – Bottoming At 100K And The Cockroach Coins Are Running

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Hey Degens,

BTC is crisscrossing 100K and everyone is arguing whether this is “the end” or “the generational dip.”

Onchain data is starting to say: chill.

Structurally, this looks more like a bottoming phase than a full breakdown. At the same time, privacy coins and zk narratives are suddenly alive in a market that still feels heavy.

Let’s walk through what is signal vs noise.

TL;DR

• BTC keeps flirting with 100K. Longs got cleaned, support is tested, but onchain metrics say we might be building a higher low, not nuking into oblivion.

• Spot and futures data show speculative sell pressure fading. Market does not need insane fuel to bounce if any half-decent news shows up.

• Privacy coins ripped: ZEC flipped XMR, Dash, ZKsync and Decred all pumped. Real flows plus narrative, not just random candles.

• Still a trap-heavy environment. If you chase verticals or panic at wicks, you are volunteering to be exit liquidity.

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🧃 THE RUNDOWN

• BTC: Trades around 99K–101K after tagging below 100K. 700M+ in long liquidations in 24 hours. Liquidity stacked above and below, classic “herding” zone.

• Order books: Big bids showing at 99K, but could be bait. If they move up with price or vanish on touch, you have your answer.

• Momentum: RSI on low timeframes lifting off oversold while price tries to put in a higher low.

• Onchain read: CryptoQuant framing this as a “bottoming phase” with speculative selling pressure cooling off.

MAIN EVENT: BTC AT 100K – PAIN NOW, STRUCTURE NOT DEAD

Here is what we actually know from the data in front of us:

1. Liquidity games are obvious.
   Heatmaps show size sitting just under price (around 99K) while liquidations cluster above. That is a perfect environment to whip both sides. Do not assign deep “macro meaning” to every 500 dollar wick in this range.

   

   BTC liquidation heatmap (screenshot). Source: CoinGlass

2. Leverage is getting washed.
   Over 700M in long liquidations in a day is not bullish in the moment, but it is exactly what you want if you are looking for a durable base. Less forced bid later, less fragile structure.

   

   Total crypto liquidations (screenshot). Source: CoinGlass

3. Higher low attempt is real.
   We have:

   • Oversold RSI starting to curl up.

   • Price trying to hold above the last major nuke lows.

   • No sign of full-blown forced seller cascade like a true top blow off.

   That does not guarantee “bottom in,” but it fits a bottoming phase better than a completed top. As one read put it: a bit of good news might be enough to kick off the next leg.

4. Key mindset here:
   This is the range where impatient people blow up:

   • Long too heavy into “this is the bottom.”

   • Short too heavy into “100K gone we go to zero.”
     The pros size down, wait for confirmation, and let trapped leverage show its hand.

DEEPER CUTS: PRIVACY COINS TAKE THE STAGE

While majors are stuck in therapy at 100K, privacy coins decided to cosplay 2017.

From the data:

• Zcash (ZEC):
  Up over 70%+ on the week, flips Monero as top privacy coin by market cap. Catalyst: real upgrades (cross chain swaps, private payments via Near Intents) plus a growing “people are sick of surveillance” narrative.

• Monero (XMR):
  Modest green but still relevant. Recent Flourine Fermi update is literally about defending against “spy nodes.” Community still obsessed with actual privacy, not vibes.

• Dash:
  Up over 100%+ on the week. New perp listing and the privacy narrative helped juice it.

• ZKsync:
  Pops hard. Conversation shifting to tokenomics and aligning real usage with value. ZK infra and rollup plays are quietly tying into this “privacy plus scalability plus real fees” narrative.

• Decred (DCR):
  Up big after being flat for ages. Hybrid consensus, governance, and now tagged as a “privacy coin” on screens. That label alone can pull in fast money.

What to read from all this:

• There is clear demand for:

  • Assets that are not purely ETF beta.

  • Anything tied to privacy, censorship resistance, and real infra.

• Some of this is narrative pumping, some of it is justified. If BTC is in a slow bottoming phase, side pockets like these are where speculators go hunting.

Just do not confuse “weekly 80% candle” with “safest long term asset.” Treat them like high beta trades unless you genuinely understand the tech and risk.

MINI HOT TAKES

• BTC at 100K is not “doomed.” It is exactly where weak hands get harvested so the next move can be cleaner.

• The privacy pump is part narrative, part overdue. Governments keep creeping; markets noticed.

• In this range, your biggest edge is not being in a rush. The game right now is patience, not prediction.

If this really is the bottoming phase, nobody will ring a bell at the low. It will feel annoying, slow, and wrong. Which is kind of the point.

Hang tight, think clearly, stop being exit liquidity.

Catch you in the next DegenDen.

Meme of the Day