CPI drops tomorrow night｜BTC touched $84,352 before getting slammed back to $81,261; $348M liquidated in 24h: bulls and bears both take a hit
Last night, BTC touched $84,352, just $3 shy of the 38.2% Fibonacci level at $84,355—a level it hasn’t broken once since early October. Then it turned around and plunged to a 24-hour low of $81,261. $BTC is now at $81,482, down 2.9% over 24 hours.
$ETH was hit harder: down 4.58% over 24 hours, currently at $2,428. Its 24-hour low was $2,413.65, just a few dollars above the $2,409 long-wick low from October 9—almost a direct hit. The key $2,550 level has also been breached.
The most expensive part was the leverage bill. Over the past 24 hours, $348 million in positions were liquidated across the market: $195 million in longs and $152 million in shorts. Bulls and bears both took a hit. At this time yesterday, liquidations totaled just $65.54 million—more than a fivefold increase overnight. BTC liquidations reached $83.56 million and ETH liquidations $76.46 million. The biggest single liquidation was still a $4.88 million BTC long on Hyperliquid.
Tomorrow night at 20:30 Beijing time, the US September CPI will be released. Leverage has already been flushed out, and neither bulls nor bears have much ammunition left. The market will likely keep probing for direction until the CPI data comes out.
On the eve of CPI, which camp are you in: the “wait-and-see” crowd staying on the sidelines until the data drops, or the “early movers” who have already taken a position?
This is for personal record-keeping only and does not constitute investment advice.
Last night, BTC touched $84,352, just $3 shy of the 38.2% Fibonacci level at $84,355—a level it hasn’t broken once since early October. Then it turned around and plunged to a 24-hour low of $81,261. $BTC is now at $81,482, down 2.9% over 24 hours.
$ETH was hit harder: down 4.58% over 24 hours, currently at $2,428. Its 24-hour low was $2,413.65, just a few dollars above the $2,409 long-wick low from October 9—almost a direct hit. The key $2,550 level has also been breached.
The most expensive part was the leverage bill. Over the past 24 hours, $348 million in positions were liquidated across the market: $195 million in longs and $152 million in shorts. Bulls and bears both took a hit. At this time yesterday, liquidations totaled just $65.54 million—more than a fivefold increase overnight. BTC liquidations reached $83.56 million and ETH liquidations $76.46 million. The biggest single liquidation was still a $4.88 million BTC long on Hyperliquid.
Tomorrow night at 20:30 Beijing time, the US September CPI will be released. Leverage has already been flushed out, and neither bulls nor bears have much ammunition left. The market will likely keep probing for direction until the CPI data comes out.
On the eve of CPI, which camp are you in: the “wait-and-see” crowd staying on the sidelines until the data drops, or the “early movers” who have already taken a position?
This is for personal record-keeping only and does not constitute investment advice.