🚨 CPI shock! BTC and ETH plunge in an instant! Is another wave of selling coming to the crypto market?
U.S. October CPI came in above market expectations. Inflation cooled less than expected, dealing another blow to hopes for Fed rate cuts!
After the data was released, BTC briefly fell toward $73,500, while ETH came close to $2,040. Bulls took a severe hit!
📉 1. Why the sudden plunge?
* CPI rose 0.4% month over month, above the 0.3% expected.
* Core CPI rose 0.3% month over month, above the 0.2% expected.
* Rate-cut expectations cooled, putting upward pressure on the U.S. dollar and Treasury yields.
* Risk aversion increased, and capital began flowing out of risk assets.
🔥 2. Key levels to watch for BTC and ETH
BTC (Bitcoin)
* If it falls below 73,000: watch 71,000 and 69,000.
* A move back above 74,500 is needed to ease bearish pressure.
* A break above 75,500 could pave the way for a test of 77,000.
ETH (Ethereum)
* If it falls below 2,000: watch 1,900 and 1,800.
* A move back above 2,100 could lead to a short-term rebound.
* A break above 2,200 is needed for momentum to turn bullish again.
⚠️ 3. Trading strategy
🔴 BTC: If a rebound fails to reclaim 74,500, watch for shorting opportunities.
🔴 ETH: If a rebound fails to reclaim 2,100, watch for shorting opportunities.
🟢 If key levels are quickly reclaimed, beware of a rebound sparked by short covering.
📌 Final reminder:
This CPI report could mark the beginning of a market sell-off—or a turning point where the bad news is already priced in.
Next, keep an eye on Treasury yields, BTC support, and ETH's $2,000 level!
🔥 Want the latest market updates, long/short strategies, and entry and exit levels? Remember to follow me!
👇 Click below to trade and catch the next market move!
U.S. October CPI came in above market expectations. Inflation cooled less than expected, dealing another blow to hopes for Fed rate cuts!
After the data was released, BTC briefly fell toward $73,500, while ETH came close to $2,040. Bulls took a severe hit!
📉 1. Why the sudden plunge?
* CPI rose 0.4% month over month, above the 0.3% expected.
* Core CPI rose 0.3% month over month, above the 0.2% expected.
* Rate-cut expectations cooled, putting upward pressure on the U.S. dollar and Treasury yields.
* Risk aversion increased, and capital began flowing out of risk assets.
🔥 2. Key levels to watch for BTC and ETH
BTC (Bitcoin)
* If it falls below 73,000: watch 71,000 and 69,000.
* A move back above 74,500 is needed to ease bearish pressure.
* A break above 75,500 could pave the way for a test of 77,000.
ETH (Ethereum)
* If it falls below 2,000: watch 1,900 and 1,800.
* A move back above 2,100 could lead to a short-term rebound.
* A break above 2,200 is needed for momentum to turn bullish again.
⚠️ 3. Trading strategy
🔴 BTC: If a rebound fails to reclaim 74,500, watch for shorting opportunities.
🔴 ETH: If a rebound fails to reclaim 2,100, watch for shorting opportunities.
🟢 If key levels are quickly reclaimed, beware of a rebound sparked by short covering.
📌 Final reminder:
This CPI report could mark the beginning of a market sell-off—or a turning point where the bad news is already priced in.
Next, keep an eye on Treasury yields, BTC support, and ETH's $2,000 level!
🔥 Want the latest market updates, long/short strategies, and entry and exit levels? Remember to follow me!
👇 Click below to trade and catch the next market move!