There’s something interesting about the market today.
U.S. stock markets are closed.
It’s Veterans Day, Wall Street is off, and the bond market is closed too.
The entire traditional financial market has hit pause. Only crypto is still trading.
So what happened?
$BTC is stuck around $73,600, down 2% in 24 hours, after briefly dipping to $72,700.
$ETH is doing even worse: $2,046, down 4%.
When there’s nobody to catch the falling knife, prices can drop even more cleanly.
No one’s propping up the market, and no one’s messing with it. Prices are simply showing the market as it really is.
What’s really weighing on the market is what was said yesterday.
Fed Governor Waller said publicly in London that even if inflation cools, he would still support a rate hike in December.
After that, the market never really recovered from the hotter-than-expected CPI reading.
October CPI rose 0.4% month over month, and core CPI rose 0.3%—both 0.1 percentage point above expectations.
Now the market is seriously discussing the possibility that December won’t bring a rate cut, but a rate hike.
Even more troubling is the 10-year Treasury yield.
Some analysts say that if it climbs above 5%, Bitcoin could drop straight below $73,000.
The $73,100–$73,500 range is the last line of support. If it doesn’t hold, the next level to watch is $71,800–$72,200.
The Fear and Greed Index has already fallen to 26, into fear territory.
More than $200 million in positions were liquidated across the market in 24 hours. It’s not a full-blown wipeout, but leverage is definitely being washed out bit by bit.
Honestly, I’m actually less worried about this kind of obvious bad news.
Rate hike expectations are out in the open, and prices have already fallen. The market is pricing in what it needs to price in.
What’s really painful is being stuck in a sideways market—not quite up, not quite down. A little grind every day, enough to make you question your life choices.
U.S. markets are closed today, and there’s no important data coming out tonight.
Crypto is going its own way, which actually makes it easier to see who’s really selling and who’s just sitting on their hands.
I’m watching two signals.
First, whether $73,000 can hold. If it can’t, don’t rush to catch a falling knife.
Second, after U.S. markets open tomorrow, will money flow back into risk assets, or will it keep hiding?
What about you?
On days like this, when U.S. markets are closed and only crypto is trading, do you keep watching the charts or just close the app?
Let’s talk in the comments 👇
$BTC $ETH
#市场观察 #美联储 #Bitcoin
This is not investment advice. DYOR. Trading involves risk.
U.S. stock markets are closed.
It’s Veterans Day, Wall Street is off, and the bond market is closed too.
The entire traditional financial market has hit pause. Only crypto is still trading.
So what happened?
$BTC is stuck around $73,600, down 2% in 24 hours, after briefly dipping to $72,700.
$ETH is doing even worse: $2,046, down 4%.
When there’s nobody to catch the falling knife, prices can drop even more cleanly.
No one’s propping up the market, and no one’s messing with it. Prices are simply showing the market as it really is.
What’s really weighing on the market is what was said yesterday.
Fed Governor Waller said publicly in London that even if inflation cools, he would still support a rate hike in December.
After that, the market never really recovered from the hotter-than-expected CPI reading.
October CPI rose 0.4% month over month, and core CPI rose 0.3%—both 0.1 percentage point above expectations.
Now the market is seriously discussing the possibility that December won’t bring a rate cut, but a rate hike.
Even more troubling is the 10-year Treasury yield.
Some analysts say that if it climbs above 5%, Bitcoin could drop straight below $73,000.
The $73,100–$73,500 range is the last line of support. If it doesn’t hold, the next level to watch is $71,800–$72,200.
The Fear and Greed Index has already fallen to 26, into fear territory.
More than $200 million in positions were liquidated across the market in 24 hours. It’s not a full-blown wipeout, but leverage is definitely being washed out bit by bit.
Honestly, I’m actually less worried about this kind of obvious bad news.
Rate hike expectations are out in the open, and prices have already fallen. The market is pricing in what it needs to price in.
What’s really painful is being stuck in a sideways market—not quite up, not quite down. A little grind every day, enough to make you question your life choices.
U.S. markets are closed today, and there’s no important data coming out tonight.
Crypto is going its own way, which actually makes it easier to see who’s really selling and who’s just sitting on their hands.
I’m watching two signals.
First, whether $73,000 can hold. If it can’t, don’t rush to catch a falling knife.
Second, after U.S. markets open tomorrow, will money flow back into risk assets, or will it keep hiding?
What about you?
On days like this, when U.S. markets are closed and only crypto is trading, do you keep watching the charts or just close the app?
Let’s talk in the comments 👇
$BTC $ETH
#市场观察 #美联储 #Bitcoin
This is not investment advice. DYOR. Trading involves risk.