The dollar hits an 18-month high, and BTC takes a hit first.
The dollar index surged to an 18-month high overnight, sending $BTC lower in response. It briefly fell below $83,000 (October 13). Futures longs were liquidated for $43 million, while ETFs continued to see net outflows—institutions and retail investors alike are losing confidence.
But the real test comes tomorrow: U.S. September CPI is released Wednesday, and it will directly shape rate-cut expectations. Softer inflation → faster rate cuts → BTC rebounds; hotter inflation → a stronger dollar → it’s anyone’s guess whether $82,000 can hold.
My take: Don’t make a big directional bet ahead of CPI. Wait for the data, then act. Right now, there’s strong resistance above $83,000.
Tap to see whether $BTC can reclaim $83,000 today 👇
#BTC #CPI
This is my personal opinion and does not constitute investment advice.
The dollar index surged to an 18-month high overnight, sending $BTC lower in response. It briefly fell below $83,000 (October 13). Futures longs were liquidated for $43 million, while ETFs continued to see net outflows—institutions and retail investors alike are losing confidence.
But the real test comes tomorrow: U.S. September CPI is released Wednesday, and it will directly shape rate-cut expectations. Softer inflation → faster rate cuts → BTC rebounds; hotter inflation → a stronger dollar → it’s anyone’s guess whether $82,000 can hold.
My take: Don’t make a big directional bet ahead of CPI. Wait for the data, then act. Right now, there’s strong resistance above $83,000.
Tap to see whether $BTC can reclaim $83,000 today 👇
#BTC #CPI
This is my personal opinion and does not constitute investment advice.