Today's Crypto Market: CPI Comes in Above Expectations, Bitcoin Falls Below $74,000
U.S. CPI for October came in higher than expected, fueling concerns about a December rate hike and putting renewed pressure on the crypto market.
Bitcoin fell below $74,000, briefly dipping to around $72,700; Ethereum dropped to the $2,040–$2,060 range, while major coins including SOL and XRP broadly declined.
About $650 million in positions were liquidated across the market over 24 hours, with long positions accounting for a larger share. Leverage risks are still unfolding.
In the short term, watch whether Bitcoin can reclaim $74,000. If it continues to weaken, support around $73,000 will be put to the test.
Risk warning: Crypto assets are highly volatile. The above is for market observation only and does not constitute investment advice. #BinanceOracle
U.S. CPI for October came in higher than expected, fueling concerns about a December rate hike and putting renewed pressure on the crypto market.
Bitcoin fell below $74,000, briefly dipping to around $72,700; Ethereum dropped to the $2,040–$2,060 range, while major coins including SOL and XRP broadly declined.
About $650 million in positions were liquidated across the market over 24 hours, with long positions accounting for a larger share. Leverage risks are still unfolding.
In the short term, watch whether Bitcoin can reclaim $74,000. If it continues to weaken, support around $73,000 will be put to the test.
Risk warning: Crypto assets are highly volatile. The above is for market observation only and does not constitute investment advice. #BinanceOracle