🌙 Late-Night Review | CPI Surges, $BTC Falls Below $74K
Tonight’s main event: U.S. October CPI rose 0.4% month over month (vs. 0.3% expected), while core CPI rose 0.3% (vs. 0.2% expected)—both well above forecasts. CME data shows the probability of a rate hike in December has surged to 100%. Fed Governor Waller warned, “If core CPI hits 0.3%, a 50-basis-point hike may be needed,” while Logan even called for at least two more hikes. $BTC responded by falling below $74,000, now below the average cost basis of U.S. ETF holders, around $82,300.
Two major on-chain sell-pressure signals warrant caution:
1️⃣ Miner $MARA has sold 40,581 BTC so far this year (about $3.02 billion, at an average price of $74,446), with roughly 20,000 more still available for sale
2️⃣ BlackRock disclosed that whales are converting self-custodied BTC into IBIT for security reasons, in a record amount totaling $3.6 billion
The battle between bulls and bears is heating up: miners selling and macro tightening are applying dual pressure, while institutions are buying the dip through ETFs (in-kind conversions ≠ new money flowing in). Whether $74K can hold may prove to be a key short-term turning point.
NFA | DYOR
#比特币 #BTC #CPI #美联储 #Cryptocurrency
Tonight’s main event: U.S. October CPI rose 0.4% month over month (vs. 0.3% expected), while core CPI rose 0.3% (vs. 0.2% expected)—both well above forecasts. CME data shows the probability of a rate hike in December has surged to 100%. Fed Governor Waller warned, “If core CPI hits 0.3%, a 50-basis-point hike may be needed,” while Logan even called for at least two more hikes. $BTC responded by falling below $74,000, now below the average cost basis of U.S. ETF holders, around $82,300.
Two major on-chain sell-pressure signals warrant caution:
1️⃣ Miner $MARA has sold 40,581 BTC so far this year (about $3.02 billion, at an average price of $74,446), with roughly 20,000 more still available for sale
2️⃣ BlackRock disclosed that whales are converting self-custodied BTC into IBIT for security reasons, in a record amount totaling $3.6 billion
The battle between bulls and bears is heating up: miners selling and macro tightening are applying dual pressure, while institutions are buying the dip through ETFs (in-kind conversions ≠ new money flowing in). Whether $74K can hold may prove to be a key short-term turning point.
NFA | DYOR
#比特币 #BTC #CPI #美联储 #Cryptocurrency