CPI was higher than expected, and it took a hit overnight, but Bitcoin's daily candle did not close below Sunday’s low.
Bitcoin is now at 73,525, down about 2% over 24 hours. Ethereum is at 2,048, falling more noticeably, about 3.8%. Overnight lows were 72,727 and 2,006. Bitcoin’s daily candle closed at 73,796, back above Sunday’s low of 73,510; Ethereum closed at 2,053, slightly below Sunday’s 2,060.
US October CPI rose 0.4% month over month, and core CPI rose 0.3%, both above expectations. A December rate hike is basically priced in, and some are even talking about a 50-basis-point move. Today is Veterans Day in the US, so there are no major data releases, the Treasury market is closed, and US stocks open as usual. The next thing to watch is Friday night’s PPI.
Asian trading has moved back near 73,510, with a low of 73,355. This level has not been confirmed broken on a close, but it also has not yet been proven to be the bottom. First see whether it can hold; if it cannot, the next support below is the overnight low of 72,727. On the upside, it needs to hold above yesterday’s close at 73,796 before looking toward the area near 75,000.
This 73,510 level — do you think it can hold during today’s Asian session?
$BTC $ETH
#CPI was higher than expected, US stocks and BTC are under pressure again #比特币连续五周下跌 #Crypto market 24-hour liquidations reach $1.16 billion
Bitcoin is now at 73,525, down about 2% over 24 hours. Ethereum is at 2,048, falling more noticeably, about 3.8%. Overnight lows were 72,727 and 2,006. Bitcoin’s daily candle closed at 73,796, back above Sunday’s low of 73,510; Ethereum closed at 2,053, slightly below Sunday’s 2,060.
US October CPI rose 0.4% month over month, and core CPI rose 0.3%, both above expectations. A December rate hike is basically priced in, and some are even talking about a 50-basis-point move. Today is Veterans Day in the US, so there are no major data releases, the Treasury market is closed, and US stocks open as usual. The next thing to watch is Friday night’s PPI.
Asian trading has moved back near 73,510, with a low of 73,355. This level has not been confirmed broken on a close, but it also has not yet been proven to be the bottom. First see whether it can hold; if it cannot, the next support below is the overnight low of 72,727. On the upside, it needs to hold above yesterday’s close at 73,796 before looking toward the area near 75,000.
This 73,510 level — do you think it can hold during today’s Asian session?
$BTC $ETH
#CPI was higher than expected, US stocks and BTC are under pressure again #比特币连续五周下跌 #Crypto market 24-hour liquidations reach $1.16 billion