CPI week, and crypto is already starting on the back foot.
Where we are this Monday: BTC around 74,850 after Sunday wicked down to 73,510. ETH is the weak one, down about 4% in 24h near 2,140, and ETH/BTC slipped to 0.0286 from roughly 0.0295 last week. Fear & Greed sits at 29. BTC funding on Binance is flat at 0.01%, so there's no pile of crowded longs left to flush yet.
The dates that matter: US CPI for October lands Tuesday at 8:30am ET (7pm IST), then PPI on Friday.
My view: chop under 76,000 into the CPI print. A cool number could squeeze BTC back into the 76,000 to 78,000 area. A hot one and I'd expect the 73,500 low to get tested, with ETH leading lower. I'm wrong on the cautious side if BTC closes a day above 78,000 before Friday.
$BTC $ETH
#CPI #CryptoMarket #MarketOutlook #BTC
Not financial advice.
Where we are this Monday: BTC around 74,850 after Sunday wicked down to 73,510. ETH is the weak one, down about 4% in 24h near 2,140, and ETH/BTC slipped to 0.0286 from roughly 0.0295 last week. Fear & Greed sits at 29. BTC funding on Binance is flat at 0.01%, so there's no pile of crowded longs left to flush yet.
The dates that matter: US CPI for October lands Tuesday at 8:30am ET (7pm IST), then PPI on Friday.
My view: chop under 76,000 into the CPI print. A cool number could squeeze BTC back into the 76,000 to 78,000 area. A hot one and I'd expect the 73,500 low to get tested, with ETH leading lower. I'm wrong on the cautious side if BTC closes a day above 78,000 before Friday.
$BTC $ETH
#CPI #CryptoMarket #MarketOutlook #BTC
Not financial advice.
