$ETH CPI came in hotter than expected, and there’s still no clear bottom in sight!
A lot of people are asking: Bitcoin and Ethereum have already fallen so much—could they really drop further? Last night, CPI came in hotter than expected. The market initially wicked down and bounced, then sold off hard. Caibao’s bearish outlook has once again been validated.
Waller also sent hawkish signals, saying a 50-basis-point rate hike in December isn’t off the table. ETH also failed to hold support at 2,050. Although it bounced to around 2,064 this morning, the rebound is still lacking volume, and there’s no clear sign of a reversal for now.
On top of that, large investors and institutions continue to sell. The pressure is like a heavy stone weighing on the market. So Caibao’s view is that if the 2,000 level breaks decisively, prices could continue to fall.
Short positions opened around 2,030 can be held for now! Don’t let a low-volume bounce throw you off track—a rebound is not a reversal!
A lot of people are asking: Bitcoin and Ethereum have already fallen so much—could they really drop further? Last night, CPI came in hotter than expected. The market initially wicked down and bounced, then sold off hard. Caibao’s bearish outlook has once again been validated.
Waller also sent hawkish signals, saying a 50-basis-point rate hike in December isn’t off the table. ETH also failed to hold support at 2,050. Although it bounced to around 2,064 this morning, the rebound is still lacking volume, and there’s no clear sign of a reversal for now.
On top of that, large investors and institutions continue to sell. The pressure is like a heavy stone weighing on the market. So Caibao’s view is that if the 2,000 level breaks decisively, prices could continue to fall.
Short positions opened around 2,030 can be held for now! Don’t let a low-volume bounce throw you off track—a rebound is not a reversal!
