Call delivered: CPI came in hot (+0.4% month over month) and swept $BTC below $73,668, touching $72,700 before bouncing to $73,837.
In the order book:
- Bullish purge: $723.67M liquidated in 24 hours (78.9% longs), led by $258.8M in$ETH (which fell to $2,068) and $203.6M in$BTC .
- Inflation shock: monthly CPI (+0.4% vs. +0.3% expected) and Core CPI (+0.3%) increased rate pressure on the Fed in December.
- Liquidity contraction: USDT market cap fell by $6,600M, according to CryptoQuant, and a wallet linked to the Ethereum Foundation sold $ETH again.
Does the bounce from $72,700 mark the bottom ahead of Friday's PPI, or will we test $71,250? 👇
#HotCPIDecemberHikePriced
In the order book:
- Bullish purge: $723.67M liquidated in 24 hours (78.9% longs), led by $258.8M in$ETH (which fell to $2,068) and $203.6M in$BTC .
- Inflation shock: monthly CPI (+0.4% vs. +0.3% expected) and Core CPI (+0.3%) increased rate pressure on the Fed in December.
- Liquidity contraction: USDT market cap fell by $6,600M, according to CryptoQuant, and a wallet linked to the Ethereum Foundation sold $ETH again.
Does the bounce from $72,700 mark the bottom ahead of Friday's PPI, or will we test $71,250? 👇
#HotCPIDecemberHikePriced
