#hotcpidecemberhikepriced The U.S. Consumer Price Index (CPI) for October came in at 0.4% month over month (above economists’ estimate of 0.3%), causing Bitcoin to fall below the $74,000 level, testing critical support and fueling bets on a Federal Reserve (Fed) rate hike in December.
🔸 Inflation picked up pace: According to the U.S. Bureau of Labor Statistics (BLS), headline CPI rose 0.4% month over month in October (above the 0.3% forecast by experts), while core inflation (Core CPI) remained elevated at 0.3%.
🔸 The Fed’s specter: This data erased any hope of a monetary policy pause. CME FedWatch market tools show a massive probability that the Federal Reserve will make a move at its December meeting, heightening fears of a tightening that could choke off liquidity.
🔸 The impact on the giant ($BTC ): Against this backdrop, Bitcoin took a hard hit, breaking through the psychological $74,000 barrier and testing crucial support zones near $73,000, triggering millions of dollars in leveraged liquidations within hours.
✨ I want to know how you’re experiencing this pivotal moment for the crypto market:
🎯 Do you think Bitcoin will successfully defend its current support and rebound strongly in December, or is a deeper correction ahead before we see new highs?
🛡️ Are you taking advantage of the discount to accumulate, or would you rather stay on the sidelines and protect your liquidity?
If you found this analysis helpful, like 👍 and share it 🔁 with another trader who needs to read this, and follow me to stay up to date with what’s happening in macroeconomics.
#BinanceSquareFamily #BTC #Fed #nuricrypto
$BTC
$AGT
🔸 Inflation picked up pace: According to the U.S. Bureau of Labor Statistics (BLS), headline CPI rose 0.4% month over month in October (above the 0.3% forecast by experts), while core inflation (Core CPI) remained elevated at 0.3%.
🔸 The Fed’s specter: This data erased any hope of a monetary policy pause. CME FedWatch market tools show a massive probability that the Federal Reserve will make a move at its December meeting, heightening fears of a tightening that could choke off liquidity.
🔸 The impact on the giant ($BTC ): Against this backdrop, Bitcoin took a hard hit, breaking through the psychological $74,000 barrier and testing crucial support zones near $73,000, triggering millions of dollars in leveraged liquidations within hours.
✨ I want to know how you’re experiencing this pivotal moment for the crypto market:
🎯 Do you think Bitcoin will successfully defend its current support and rebound strongly in December, or is a deeper correction ahead before we see new highs?
🛡️ Are you taking advantage of the discount to accumulate, or would you rather stay on the sidelines and protect your liquidity?
If you found this analysis helpful, like 👍 and share it 🔁 with another trader who needs to read this, and follow me to stay up to date with what’s happening in macroeconomics.
#BinanceSquareFamily #BTC #Fed #nuricrypto
$BTC
$AGT
