Bitcoin’s 100% Rally Crashes Overnight—Overheated Market Snuffed Out in Seconds

Bitcoin's parabolic surge hits a brutal wall as profits evaporate in a flash crash.

The 100% gains that had traders celebrating vanished faster than a crypto bro's inheritance.

Market Overheating Meets Reality

Speculative mania met its match as leveraged positions got liquidated en masse. The 'number go up' machine sputtered—proving once again that crypto moves faster on the way down than on the way up.

Technical carnage unfolded as support levels cracked like cheap hardware wallets. This wasn't a dip—it was a full-scale margin call massacre.

Just another Tuesday in digital asset land, where 100% returns can disappear before your coffee gets cold. Wall Street's 'risk management' teams are probably still trying to figure out how to short regret.

Recommendation downgrade

At least some of the negative sentiment can be traced to an analyst recommendation downgrade, which occurred well before market open that day. Evercore ISI's David Palmer changed his view of Texas Roadhouse; he now feels it rates an in-line (hold, in other words), one full peg down from his previous outperform (buy). His current price target is $190 per share.

Image source: Getty Images.

In his latest analysis on the stock, according to reports, Palmer expressed more concern about external rather than internal factors. Specifically, he believes that the recent double-digit price rise for beef -- the company's critical input -- will persist into future quarters. In fact, to reflect this, the analyst lowered his annual earnings estimates for both 2025 and 2025 due to such anticipated inflation.

In detailing this, Palmer was a bit more positive about Texas Roadhouse's performance. He pointed out that in his estimation, the company is effectively sustaining good same-restaurant sales (an important metric in the industry) and foot traffic growth.

Not every pundit is a bear

The Evercore ISI prognosticator's MOVE obliterated an earlier, more bullish take by one of Palmer's peers. After market close on Wednesday, Freedom Broker analyst Lynne Collier initiated coverage of Texas Roadhouse stock with a confident buy recommendation. She set her price target at $211 per share.