☀️ Morning market check: Bitcoin is defending 73,000
🔹 $BTC is trading around 73,700–74,000 this Thursday morning (Nov 12), down about 8% on the week and roughly 16% below its September peak
🔹 Support: 72,700–73,000 (Tuesday's post-CPI low was near 72,840). Below that: 72,000, then the 70,000 zone
🔹 Resistance: 75,000–75,600, then about 77,700
🔹 The 200-day average sits near 73,100, so this is a big line for bulls
🔹 $ETH is near 2,050
🔹 Fear & Greed: 28 (Fear), down from 32 on Tuesday
What's weighing on price:
🔹 US spot BTC ETFs saw about 95M in net outflows on Tuesday, the 4th losing day in a row, and around 1.6B out so far in November
🔹 Crypto liquidations jumped to about 725M in 24 hours after Tuesday's hot inflation data; about 85% of BTC liquidations were longs (CoinGlass)
🔹 Markets now price about a 90% chance of a Fed rate hike on Dec 9 (CME FedWatch)
Next catalyst: US PPI inflation data on Friday, Nov 13 at 13:30 UTC.
Do you think 72,700 holds into Friday? 👇
(Not financial advice)
📷 Photo: Kanchanara / Unsplash
🔹 $BTC is trading around 73,700–74,000 this Thursday morning (Nov 12), down about 8% on the week and roughly 16% below its September peak
🔹 Support: 72,700–73,000 (Tuesday's post-CPI low was near 72,840). Below that: 72,000, then the 70,000 zone
🔹 Resistance: 75,000–75,600, then about 77,700
🔹 The 200-day average sits near 73,100, so this is a big line for bulls
🔹 $ETH is near 2,050
🔹 Fear & Greed: 28 (Fear), down from 32 on Tuesday
What's weighing on price:
🔹 US spot BTC ETFs saw about 95M in net outflows on Tuesday, the 4th losing day in a row, and around 1.6B out so far in November
🔹 Crypto liquidations jumped to about 725M in 24 hours after Tuesday's hot inflation data; about 85% of BTC liquidations were longs (CoinGlass)
🔹 Markets now price about a 90% chance of a Fed rate hike on Dec 9 (CME FedWatch)
Next catalyst: US PPI inflation data on Friday, Nov 13 at 13:30 UTC.
Do you think 72,700 holds into Friday? 👇
(Not financial advice)
📷 Photo: Kanchanara / Unsplash
