CPI day, and Bitcoin is still parked below an important line.
Overnight & this morning: BTC briefly touched $73,718 before bouncing; this morning it’s around $75,310 — still below the 50-week average of $75,488 and Strategy’s average purchase price of $75,456. ETH is at $2,134, still below the October floor of $2,170. The Nasdaq rose nearly 3% overnight, but crypto lagged — U.S. spot BTC ETFs actually recorded $1.28 billion in outflows last week, the most since late June.
Levels I’m watching today:
• $BTC: above $77,684 (reclaim = a sigh of relief), below $73,436 (last week’s low — break it = keep looking for a floor)
• $ETH: above $2,170 (October floor), below $2,070 (weekend low)
Today’s agenda: Fed Governor Waller speaks at 16:00 WIB; U.S. October CPI at 20:30 WIB — consensus is +0.3% m/m, core +0.2% m/m. A hotter reading = a greater chance of a December hike, and that’s what the market is afraid of.
My lean today: cautious, with no new positions before CPI. This view is invalidated if BTC closes a 4H candle above $77,684 — only above that level would I dare talk about a recovery.
This is my analysis, not financial advice — always DYOR.
What do you think: is tonight’s CPI more likely to come in cool or hot?
#CPI #Bitcoin $BTC $ETH
Overnight & this morning: BTC briefly touched $73,718 before bouncing; this morning it’s around $75,310 — still below the 50-week average of $75,488 and Strategy’s average purchase price of $75,456. ETH is at $2,134, still below the October floor of $2,170. The Nasdaq rose nearly 3% overnight, but crypto lagged — U.S. spot BTC ETFs actually recorded $1.28 billion in outflows last week, the most since late June.
Levels I’m watching today:
• $BTC: above $77,684 (reclaim = a sigh of relief), below $73,436 (last week’s low — break it = keep looking for a floor)
• $ETH: above $2,170 (October floor), below $2,070 (weekend low)
Today’s agenda: Fed Governor Waller speaks at 16:00 WIB; U.S. October CPI at 20:30 WIB — consensus is +0.3% m/m, core +0.2% m/m. A hotter reading = a greater chance of a December hike, and that’s what the market is afraid of.
My lean today: cautious, with no new positions before CPI. This view is invalidated if BTC closes a 4H candle above $77,684 — only above that level would I dare talk about a recovery.
This is my analysis, not financial advice — always DYOR.
What do you think: is tonight’s CPI more likely to come in cool or hot?
#CPI #Bitcoin $BTC $ETH