US CPI lands tonight at 7:00pm IST, and this one matters more than usual for crypto.
Consensus is 0.3% headline and 0.2% core month on month, after 0.6% and 0.3% in September. No yearly figure this time because of last year's shutdown gap.
The twist: Fed Governor Waller said he'd back a December hike even on a softer print, and a bigger 0.5% hike if core comes in at 0.3% or higher. So core is the number that moves things.
Where we are: $BTC sits near $74,400 after a week boxed between $73,500 and $75,600 on Binance. Fear & Greed is 32, BTC dominance about 60%, funding barely positive.
My read for the next day or two: core at 0.2% or lower gives a relief push to the top of the range and maybe a test of $76,000 by Thursday. Core at 0.3% or higher and I'd expect the $73,500 low to go, with the Aug 21 low near $73,000 next and thin support under it. I'm wrong on the bearish side if BTC closes a day above $76,000 after a hot print.
#CPI #Fed #BTC #CryptoMarket
NFA, not financial advice.
Consensus is 0.3% headline and 0.2% core month on month, after 0.6% and 0.3% in September. No yearly figure this time because of last year's shutdown gap.
The twist: Fed Governor Waller said he'd back a December hike even on a softer print, and a bigger 0.5% hike if core comes in at 0.3% or higher. So core is the number that moves things.
Where we are: $BTC sits near $74,400 after a week boxed between $73,500 and $75,600 on Binance. Fear & Greed is 32, BTC dominance about 60%, funding barely positive.
My read for the next day or two: core at 0.2% or lower gives a relief push to the top of the range and maybe a test of $76,000 by Thursday. Core at 0.3% or higher and I'd expect the $73,500 low to go, with the Aug 21 low near $73,000 next and thin support under it. I'm wrong on the bearish side if BTC closes a day above $76,000 after a hot print.
#CPI #Fed #BTC #CryptoMarket
NFA, not financial advice.
