$BTC just passed the first of two tests and the result is more useful than the inflation headline.
September PCE accelerated to 3.6%, Q3 GDP grew at a 3.4% annualized rate and markets priced an 84.6% chance of a December rate hike. Yet #bitcoin held near $80K instead of breaking the October low at $79,221.
The next test is Friday at 08:00 UTC: roughly 135,700 BTC options worth about $10.9B expire on #Deribit , with max pain at $78K. Max pain is not a target, but it sits below the same support zone the macro release failed to break.
A post-expiry hold above $79.2K would show sellers could not use the hot data. Lose it and $78K becomes the next level.
September PCE accelerated to 3.6%, Q3 GDP grew at a 3.4% annualized rate and markets priced an 84.6% chance of a December rate hike. Yet #bitcoin held near $80K instead of breaking the October low at $79,221.
The next test is Friday at 08:00 UTC: roughly 135,700 BTC options worth about $10.9B expire on #Deribit , with max pain at $78K. Max pain is not a target, but it sits below the same support zone the macro release failed to break.
A post-expiry hold above $79.2K would show sellers could not use the hot data. Lose it and $78K becomes the next level.
