Woke up to BTC under 71K. Lowest level since August 20 and it was not one thing, it was everything at once.
Nvidia says Jensen Huang is stepping down immediately, with CFO Colette Kress as interim CEO. That spooked the whole AI and risk trade overnight.
Then the flows. Spot BTC ETFs bled about 299.9M dollars on Nov 11 alone, five straight sessions of outflows, roughly 1.44B gone in that stretch.
MSCI is also removing Strategy from its USA and World indexes after the Nov 30 close, so people are now asking how much passive selling of BTC proxy names that forces.
Add October CPI at 0.4% vs 0.3% expected, December hike talk getting louder, and more than 750M dollars in liquidations in 24h with over 634M of that being longs.
Everyone is watching 70K now as the line that matters.
Is this the flush before a bounce, or is 70K about to get tested for real?
$BTC #Bitcoin #CryptoNews #BTCETF
Nvidia says Jensen Huang is stepping down immediately, with CFO Colette Kress as interim CEO. That spooked the whole AI and risk trade overnight.
Then the flows. Spot BTC ETFs bled about 299.9M dollars on Nov 11 alone, five straight sessions of outflows, roughly 1.44B gone in that stretch.
MSCI is also removing Strategy from its USA and World indexes after the Nov 30 close, so people are now asking how much passive selling of BTC proxy names that forces.
Add October CPI at 0.4% vs 0.3% expected, December hike talk getting louder, and more than 750M dollars in liquidations in 24h with over 634M of that being longs.
Everyone is watching 70K now as the line that matters.
Is this the flush before a bounce, or is 70K about to get tested for real?
$BTC #Bitcoin #CryptoNews #BTCETF
