$1.6B liquidated in 24h, and the crowd is STILL 77% long on $BTC 👀
Why the dump: hot CPI (0.4% vs 0.3% expected) pushed Fed hike odds for December to ~88%, the dollar index jumped above 103, and Nvidia's CEO exit hit tech. BTC touched 67.5k, its lowest since August, and now sits near 69.2k.
Funding is still slightly negative, but 3 out of 4 accounts are long. That is a lot of fuel for another flush if 67.5k breaks.
Macro is driving this move, not crypto news. Watch the dollar and yields.
$ETH is at 1.96k, holding up a bit better.
Not financial advice.
#Bitcoin #CPI #Crypto
Will 67.5k hold this weekend, or do we see 65k first?
Why the dump: hot CPI (0.4% vs 0.3% expected) pushed Fed hike odds for December to ~88%, the dollar index jumped above 103, and Nvidia's CEO exit hit tech. BTC touched 67.5k, its lowest since August, and now sits near 69.2k.
Funding is still slightly negative, but 3 out of 4 accounts are long. That is a lot of fuel for another flush if 67.5k breaks.
Macro is driving this move, not crypto news. Watch the dollar and yields.
$ETH is at 1.96k, holding up a bit better.
Not financial advice.
#Bitcoin #CPI #Crypto
Will 67.5k hold this weekend, or do we see 65k first?