📉 Crypto Market Check: Hot CPI Pushes BTC to 11-Week Lows
What happened: US October CPI came in hot (headline +0.4% m/m vs 0.3% expected; core +0.3% vs 0.2%). Risk assets sold off and crypto followed.
Why the market may be pricing it now: Traders are now pricing a December Fed hike as fully expected, and some are betting on a 50 bps move. The 2-year Treasury yield jumped about 18 bps to 4.73%.
Prices (24H, as of ~06:50 UTC):
• $BTC ~ $73,800 (24H: about -1% to -2%), dipped near $72,700 overnight
• $ETH ~ $2,060 (24H: about -2.5% to -3.8%)
• $SOL ~ $84 (24H: about -3.5% to -4%)
• $BNB ~ $687 (24H: roughly flat)
• Total market cap ~ $2.49T (24H: -1.4%)
• Fear & Greed: 29 (Fear)
Intraday (since 21:00 UTC): not reliably available, not shown.
Liquidations: ~$724M after the CPI print, with longs taking roughly 79%.
What to watch next: BTC support at $72,700–$73,000; $75,000 is the first level to reclaim. Friday's US PPI (Nov 13) could move yields again.
#Bitcoin #CryptoMarket #CPI #Fed #BTC
What happened: US October CPI came in hot (headline +0.4% m/m vs 0.3% expected; core +0.3% vs 0.2%). Risk assets sold off and crypto followed.
Why the market may be pricing it now: Traders are now pricing a December Fed hike as fully expected, and some are betting on a 50 bps move. The 2-year Treasury yield jumped about 18 bps to 4.73%.
Prices (24H, as of ~06:50 UTC):
• $BTC ~ $73,800 (24H: about -1% to -2%), dipped near $72,700 overnight
• $ETH ~ $2,060 (24H: about -2.5% to -3.8%)
• $SOL ~ $84 (24H: about -3.5% to -4%)
• $BNB ~ $687 (24H: roughly flat)
• Total market cap ~ $2.49T (24H: -1.4%)
• Fear & Greed: 29 (Fear)
Intraday (since 21:00 UTC): not reliably available, not shown.
Liquidations: ~$724M after the CPI print, with longs taking roughly 79%.
What to watch next: BTC support at $72,700–$73,000; $75,000 is the first level to reclaim. Friday's US PPI (Nov 13) could move yields again.
#Bitcoin #CryptoMarket #CPI #Fed #BTC