Today’s Crypto Divination｜Today’s Hexagram: 解 (Deliverance) — When the knot is undone, life can move forward. Once the bad news is out, the pressure eases.
Nonfarm payrolls blow past expectations, BTC drops straight below 75,000: Has the rate-hike card already been played face up?
Sources: U.S. Bureau of Labor Statistics (via CoinDesk and CNBC), CME FedWatch, Finnhub, Binance Square; snapshot taken the morning of 11-07. Figures are given as ranges rather than forced into a single number.
October nonfarm payrolls added 165,000 jobs, versus expectations of only about 59,000–65,000. The unemployment rate was 4.1%, and September’s figure was revised up from 29,000 to 60,000. CME FedWatch showed the probability of a 25-basis-point rate hike on December 9 at about 76.8%–79%, up from about 67%–70% before the release. BTC bottomed at about $74,762, its lowest since August 21, and is now around $75,864; the 76,000 low that held on election night has broken. The Nasdaq rebounded about 1.1%–1.3% on Friday, led by chip stocks, but BTC didn’t follow. About $1.25 billion in positions were liquidated across the crypto market in 24 hours, roughly 89% of them longs; BTC spot ETFs saw net outflows of $430 million in a single day. The Square Fear and Greed Index stood at 31, in Fear territory.
On 11-03, 76,000 held through election night; on 11-04, BTC surged back to 81,000; then on 11-06, the nonfarm payrolls report came out and BTC dropped straight below 75,000. Looking back, that wick from three days ago was just a fake-out.
Honestly, once the bad news is out, the uncertainty is gone: rate-hike expectations are at 80%, so half the shoe has already dropped. BTC broke below 75,000 and then recovered; bears can’t push it lower. Chip stocks have already bounced, risk appetite is back, and BTC should be next in line. There’s another nonfarm payrolls report on December 4, five days before the December 9 rate decision—that’s the last card to play.
When the December 4 nonfarm payrolls report comes out, I’ll help you make sense of it. Follow me, and I’ll keep an eye on the 75,000 level for you until the rate-hike card has been played.
The hexagram has been cast; set your own position. —The Remaining Hand
For entertainment and metaphysical purposes only; not investment advice.
#玄学炒币 #BTC #非农就业报告 #FederalReserve
Nonfarm payrolls blow past expectations, BTC drops straight below 75,000: Has the rate-hike card already been played face up?
Sources: U.S. Bureau of Labor Statistics (via CoinDesk and CNBC), CME FedWatch, Finnhub, Binance Square; snapshot taken the morning of 11-07. Figures are given as ranges rather than forced into a single number.
October nonfarm payrolls added 165,000 jobs, versus expectations of only about 59,000–65,000. The unemployment rate was 4.1%, and September’s figure was revised up from 29,000 to 60,000. CME FedWatch showed the probability of a 25-basis-point rate hike on December 9 at about 76.8%–79%, up from about 67%–70% before the release. BTC bottomed at about $74,762, its lowest since August 21, and is now around $75,864; the 76,000 low that held on election night has broken. The Nasdaq rebounded about 1.1%–1.3% on Friday, led by chip stocks, but BTC didn’t follow. About $1.25 billion in positions were liquidated across the crypto market in 24 hours, roughly 89% of them longs; BTC spot ETFs saw net outflows of $430 million in a single day. The Square Fear and Greed Index stood at 31, in Fear territory.
On 11-03, 76,000 held through election night; on 11-04, BTC surged back to 81,000; then on 11-06, the nonfarm payrolls report came out and BTC dropped straight below 75,000. Looking back, that wick from three days ago was just a fake-out.
Honestly, once the bad news is out, the uncertainty is gone: rate-hike expectations are at 80%, so half the shoe has already dropped. BTC broke below 75,000 and then recovered; bears can’t push it lower. Chip stocks have already bounced, risk appetite is back, and BTC should be next in line. There’s another nonfarm payrolls report on December 4, five days before the December 9 rate decision—that’s the last card to play.
When the December 4 nonfarm payrolls report comes out, I’ll help you make sense of it. Follow me, and I’ll keep an eye on the 75,000 level for you until the rate-hike card has been played.
The hexagram has been cast; set your own position. —The Remaining Hand
For entertainment and metaphysical purposes only; not investment advice.
#玄学炒币 #BTC #非农就业报告 #FederalReserve