📉 What do the charts look like after key support gave way? CPI data triggered a flight to safety, and markets weakened across the board!
Market overview (as of early this morning Beijing time):
$BTC is currently at $81,168, down about 2.3% over 24 hours. It briefly fell below $81,000 intraday, hitting a low of $80,226. Ether is down about 4.8% to $2,373, BNB is down 2.5% to $722, and Solana is down 3.2% to around $103.
🔍 Technical breakdown:
1. BTC daily chart: Opened at 83,196 → high of 83,933 → low of 80,226. A large bearish candle formed. Although the $80,000 level has held for now, the rebound stalled near $81,500 and turned lower, indicating heavy overhead selling pressure. A break below $80,000 would put the next support near $78,000.
2. Ether is weaker: Its decline is twice BTC’s, making it the worst-performing major coin. Liquidation data shows $283 million in Ether positions were liquidated, with longs accounting for 90%—leveraged longs were almost completely wiped out. This is a classic “long squeeze.”
3. Nearly $1 billion in positions were liquidated across the market over 24 hours, with 91.6% being longs. After the liquidation wave subsides, a short-term oversold bounce may follow, but be wary of whether it’s merely a technical rebound or a genuine stabilization.
⚠️ Macro headwinds: U.S. September CPI rose to 3.7%, above expectations, and the market at one point priced in nearly a 50% probability of a Fed rate hike. U.S. spot Bitcoin ETFs saw net outflows of $150.5 million on October 14, signaling weaker institutional demand.
Trading approach: Don’t rush to buy the dip. Wait for a confirmed move back above the $80,000 level. Spot traders can scale in gradually; futures traders should reduce leverage by one notch.
Do you think $80,000 will hold? Share your thoughts in the comments 👇
#比特币 #BTC #以太坊 #MarketAnalysis
⚠️ Personal opinion only. DYOR and be aware of the risks.
Market overview (as of early this morning Beijing time):
$BTC is currently at $81,168, down about 2.3% over 24 hours. It briefly fell below $81,000 intraday, hitting a low of $80,226. Ether is down about 4.8% to $2,373, BNB is down 2.5% to $722, and Solana is down 3.2% to around $103.
🔍 Technical breakdown:
1. BTC daily chart: Opened at 83,196 → high of 83,933 → low of 80,226. A large bearish candle formed. Although the $80,000 level has held for now, the rebound stalled near $81,500 and turned lower, indicating heavy overhead selling pressure. A break below $80,000 would put the next support near $78,000.
2. Ether is weaker: Its decline is twice BTC’s, making it the worst-performing major coin. Liquidation data shows $283 million in Ether positions were liquidated, with longs accounting for 90%—leveraged longs were almost completely wiped out. This is a classic “long squeeze.”
3. Nearly $1 billion in positions were liquidated across the market over 24 hours, with 91.6% being longs. After the liquidation wave subsides, a short-term oversold bounce may follow, but be wary of whether it’s merely a technical rebound or a genuine stabilization.
⚠️ Macro headwinds: U.S. September CPI rose to 3.7%, above expectations, and the market at one point priced in nearly a 50% probability of a Fed rate hike. U.S. spot Bitcoin ETFs saw net outflows of $150.5 million on October 14, signaling weaker institutional demand.
Trading approach: Don’t rush to buy the dip. Wait for a confirmed move back above the $80,000 level. Spot traders can scale in gradually; futures traders should reduce leverage by one notch.
Do you think $80,000 will hold? Share your thoughts in the comments 👇
#比特币 #BTC #以太坊 #MarketAnalysis
⚠️ Personal opinion only. DYOR and be aware of the risks.