$BTC lost $84K today, and the cause is macro, not crypto.
Snapshot (CoinGecko):
• $BTC ~$83.5K, −2.6% on the day (intraday low ~$82.8K)
• $ETH ~$2,575, −4.8%
What's driving it: Brent is back above $101, and the US 30-year yield reached 5.70%, its highest since 2002. When yields climb like this, risk assets get repriced, and crypto is no exception.
Leverage made it worse. About $555M in crypto futures got liquidated in 24h, and ~$487M of that was longs (CoinGlass).
Levels I'm watching:
• $84K–$85K: the old floor, now resistance
• ~$81.3K: next support zone if $82.8K breaks
Next catalysts: the Fed's September meeting minutes at 2 PM ET today (18:00 UTC), then US CPI on Oct 14.
Not financial advice. Manage your size.
#BTC #MarketUpdate #Macro #FOMC
Snapshot (CoinGecko):
• $BTC ~$83.5K, −2.6% on the day (intraday low ~$82.8K)
• $ETH ~$2,575, −4.8%
What's driving it: Brent is back above $101, and the US 30-year yield reached 5.70%, its highest since 2002. When yields climb like this, risk assets get repriced, and crypto is no exception.
Leverage made it worse. About $555M in crypto futures got liquidated in 24h, and ~$487M of that was longs (CoinGlass).
Levels I'm watching:
• $84K–$85K: the old floor, now resistance
• ~$81.3K: next support zone if $82.8K breaks
Next catalysts: the Fed's September meeting minutes at 2 PM ET today (18:00 UTC), then US CPI on Oct 14.
Not financial advice. Manage your size.
#BTC #MarketUpdate #Macro #FOMC