Today's biggest crypto story wasn't a coin. It was one inflation print. 🧵
1/ US CPI came in hotter than hoped. Bond yields jumped and traders now see a December Fed rate hike as close to a lock.
2/ Risk assets felt it fast. $BTC slipped to around $73K, its weakest level since late August. $ETH dropped about 5% and is hovering near $2,000.
3/ The pressure was already building. US spot Bitcoin ETFs have seen roughly $1.5B in outflows since Nov 2, and miner MARA disclosed selling about 13.6K BTC over six weeks.
4/ One bright spot: NYSE picked Avalanche to settle trades on a planned 24/7 tokenized securities platform. Wall Street is still building on crypto rails, even on a red day.
So here's my question 👇
Is this macro shakeout a gift for patient buyers, or the start of a longer cool-down?
Drop your take in the comments.
#CryptoNews #Bitcoin #CPI #FedRates
Not financial advice, DYOR.
1/ US CPI came in hotter than hoped. Bond yields jumped and traders now see a December Fed rate hike as close to a lock.
2/ Risk assets felt it fast. $BTC slipped to around $73K, its weakest level since late August. $ETH dropped about 5% and is hovering near $2,000.
3/ The pressure was already building. US spot Bitcoin ETFs have seen roughly $1.5B in outflows since Nov 2, and miner MARA disclosed selling about 13.6K BTC over six weeks.
4/ One bright spot: NYSE picked Avalanche to settle trades on a planned 24/7 tokenized securities platform. Wall Street is still building on crypto rails, even on a red day.
So here's my question 👇
Is this macro shakeout a gift for patient buyers, or the start of a longer cool-down?
Drop your take in the comments.
#CryptoNews #Bitcoin #CPI #FedRates
Not financial advice, DYOR.