Mi Ge first, a look at tonight’s release: U.S. October PPI is due at 21:30. The market expects +0.4% month over month and +6.6% year over year, with core PPI at +0.3% month over month and +5.0% year over year. September’s figures—+1.3% month over month and +6.3% year over year—already gave the market a scare. Then October CPI came in hotter than expected, at +0.4% month over month versus +0.3%, which is why tonight’s data is so important.
Bitcoin is now around $68,959. It dipped as low as $67,568 today, breaking below both $70,000 and $69,000. More than $1.3 billion in positions were liquidated across the crypto market over the past 24 hours, and the Fear and Greed Index has fallen into the Extreme Fear zone. The 200-week moving average is around $68,000, and the price has already dipped below it intraday. Whether it can close back above that level is the key.
Mi Ge’s view in a nutshell: If the data meets expectations, the market will probably breathe a sigh of relief first and see whether it can get back above $70,000. If it comes in hotter than expected, the probability of a 25-basis-point rate hike in December is already around 90%, so Bitcoin will have to test $67,500 and $65,000 first. What do you think—after tonight’s PPI release, will BTC bounce back to $70,000 first, or dip to $67,500 first?
#美国10月PPI今晚21点30分公布
Bitcoin is now around $68,959. It dipped as low as $67,568 today, breaking below both $70,000 and $69,000. More than $1.3 billion in positions were liquidated across the crypto market over the past 24 hours, and the Fear and Greed Index has fallen into the Extreme Fear zone. The 200-week moving average is around $68,000, and the price has already dipped below it intraday. Whether it can close back above that level is the key.
Mi Ge’s view in a nutshell: If the data meets expectations, the market will probably breathe a sigh of relief first and see whether it can get back above $70,000. If it comes in hotter than expected, the probability of a 25-basis-point rate hike in December is already around 90%, so Bitcoin will have to test $67,500 and $65,000 first. What do you think—after tonight’s PPI release, will BTC bounce back to $70,000 first, or dip to $67,500 first?
#美国10月PPI今晚21点30分公布