165,000 jobs vs 65,000 expected. Great for the economy, bad for cheap money. So why is Bitcoin still holding $76K?
October payrolls came in at more than double the forecast, unemployment fell to 4.1%, and markets now price roughly 73-75% odds of a 25 bp Fed hike on Dec 9. Tighter liquidity is exactly the headwind risk assets hate.
The pressure is real: spot BTC ETFs bled $412M in a day, $403M of it from BlackRock's IBIT, and over $1B in crypto leverage was liquidated. Yet $BTC bounced off $74,888 and trades near $76,000.
What most people miss: when bad news is priced in and sellers are exhausted, price stops falling. Next test is CPI on Nov 10. Hold $75K and $76,300 is the lid to break. Lose it and the flush low is back in play.
Is the market front-running the hike, or ignoring it?
Not financial advice.
#JobsReportRaisesHikeOdds #CPITestsDecemberRateOutlook #Bitcoin #FedRateHike
October payrolls came in at more than double the forecast, unemployment fell to 4.1%, and markets now price roughly 73-75% odds of a 25 bp Fed hike on Dec 9. Tighter liquidity is exactly the headwind risk assets hate.
The pressure is real: spot BTC ETFs bled $412M in a day, $403M of it from BlackRock's IBIT, and over $1B in crypto leverage was liquidated. Yet $BTC bounced off $74,888 and trades near $76,000.
What most people miss: when bad news is priced in and sellers are exhausted, price stops falling. Next test is CPI on Nov 10. Hold $75K and $76,300 is the lid to break. Lose it and the flush low is back in play.
Is the market front-running the hike, or ignoring it?
Not financial advice.
#JobsReportRaisesHikeOdds #CPITestsDecemberRateOutlook #Bitcoin #FedRateHike
