Hot CPI puts a Fed hike on the table. Bitcoin feels it.
October US CPI: +0.4% m/m vs 0.3% expected. Core +0.3% vs 0.2%, a third straight month.
Fed Governor Waller now leans toward a 25 bp hike in December and says 50 bp should be considered.
US 10Y yield back near 5%. Nasdaq -0.7%.
$BTC ~$73.7K (04:30 UTC), testing $73K support. ~$723M liquidated in 24h, mostly longs. Spot BTC ETFs: 3rd straight day of outflows.
Our take: this is no longer a "when do cuts come" market. It's a "how many hikes" market, and crypto is pricing it in real time.
If the Fed hikes on Dec 9, does $BTC hold $70K or lose it? Give one reason.
October US CPI: +0.4% m/m vs 0.3% expected. Core +0.3% vs 0.2%, a third straight month.
Fed Governor Waller now leans toward a 25 bp hike in December and says 50 bp should be considered.
US 10Y yield back near 5%. Nasdaq -0.7%.
$BTC ~$73.7K (04:30 UTC), testing $73K support. ~$723M liquidated in 24h, mostly longs. Spot BTC ETFs: 3rd straight day of outflows.
Our take: this is no longer a "when do cuts come" market. It's a "how many hikes" market, and crypto is pricing it in real time.
If the Fed hikes on Dec 9, does $BTC hold $70K or lose it? Give one reason.
