Coinbase $COIN fell below $120, hitting a 60-day low.
News: On 11/14 in Boston, Fed’s Collins said a “steady, gradual” rate-hike path remained appropriate (Bloomberg, Reuters). October core CPI rose 0.3% month over month, above expectations. Markets have priced in 25-basis-point hikes on December 8–9 and in January, while the 10-year Treasury yield climbed to 5.02%. Expectations of higher rates are directly weighing on high-beta assets.
Market action: U.S. stocks closed at $126.39 on Friday (11/13), and perpetual futures continued falling over the weekend to $120.1. The stock was down 4.84% intraday, with a 5.57% range and $30.8 million in 24-hour trading volume. The low of $119.97 marked a 60-day low, down 42% from the 60-day high of $208.4. Crypto-related stocks weakened across the board: MicroStrategy -6.7%, BMNR -6.0%, Circle -4.6%.
Levels: Place staggered limit orders in the $116.0–$119.5 accumulation zone; hard stop at $112.5; targets at $126.4 (to fill Friday’s closing gap) / $131.5 (10-day moving average) / $141.2 (20-day moving average).
Is $119.97 the floor for this move, or just a halfway stop before a further drop to $110?
$COIN #TradFi #美股 #BinanceSquare
News: On 11/14 in Boston, Fed’s Collins said a “steady, gradual” rate-hike path remained appropriate (Bloomberg, Reuters). October core CPI rose 0.3% month over month, above expectations. Markets have priced in 25-basis-point hikes on December 8–9 and in January, while the 10-year Treasury yield climbed to 5.02%. Expectations of higher rates are directly weighing on high-beta assets.
Market action: U.S. stocks closed at $126.39 on Friday (11/13), and perpetual futures continued falling over the weekend to $120.1. The stock was down 4.84% intraday, with a 5.57% range and $30.8 million in 24-hour trading volume. The low of $119.97 marked a 60-day low, down 42% from the 60-day high of $208.4. Crypto-related stocks weakened across the board: MicroStrategy -6.7%, BMNR -6.0%, Circle -4.6%.
Levels: Place staggered limit orders in the $116.0–$119.5 accumulation zone; hard stop at $112.5; targets at $126.4 (to fill Friday’s closing gap) / $131.5 (10-day moving average) / $141.2 (20-day moving average).
Is $119.97 the floor for this move, or just a halfway stop before a further drop to $110?
$COIN #TradFi #美股 #BinanceSquare