#cpi高于预期，美股与btc再度承压
As soon as last night’s CPI data came out, Bitcoin plunged to a low of 72,691 U 😮
Today it rebounded to a high of around 74,150 U, but has since pulled back to around 73,700.
The previous support at 74,000 has become resistance after the price broke below it.
A rate hike in December is looking almost inevitable. Some Fed officials are even calling for a return to 50-basis-point hikes.
We need to understand that when interest rates are this high, hot money is even less willing to flow into crypto.
Look at Bitcoin now: it’s stuck around 73,800 U, barely moving. It may look like it can’t fall any further, but don’t be fooled by appearances.
For now, this is just a rebound, not a reversal. 74,000 has become resistance, and if the price breaks above it but can’t hold, it’ll head back down.
If it falls further and breaks below the 72,000 line in the sand, this trend is done for. Forget about a bull-market comeback.
Bitcoin has fallen this far, yet Binance’s long/short ratio is still high at around 2.8, and the funding rate is still positive.
That means bulls are still aggressively buying the dip—and even paying shorts funding fees.
At a time like this, unless the market makers completely liquidate these stubborn longs, it’ll be tough to get the rally going 😄
ETFs have seen net outflows for several days in a row, with even BlackRock pulling out tens of millions.
So don’t try to guess the bottom. Right now, the market offers “too little chance of winning, too little profit potential on either side, and a high risk of getting liquidated by a sharp wick in either direction.”
My strategy for now is to keep holding my existing spot position and not add to it yet.
I’ll keep holding my underwater short position in Bitcoin for now and close it when the right opportunity comes along. After all, I’m almost back to breakeven.
When the market is completely desperate, funding rates turn negative, and ETF outflows stop, I’ll get back in and scoop up blood-soaked bargains.
During this dead zone, keep your hands off the buttons. Not losing is as good as making money.$BTC $ETH $HYPE
As soon as last night’s CPI data came out, Bitcoin plunged to a low of 72,691 U 😮
Today it rebounded to a high of around 74,150 U, but has since pulled back to around 73,700.
The previous support at 74,000 has become resistance after the price broke below it.
A rate hike in December is looking almost inevitable. Some Fed officials are even calling for a return to 50-basis-point hikes.
We need to understand that when interest rates are this high, hot money is even less willing to flow into crypto.
Look at Bitcoin now: it’s stuck around 73,800 U, barely moving. It may look like it can’t fall any further, but don’t be fooled by appearances.
For now, this is just a rebound, not a reversal. 74,000 has become resistance, and if the price breaks above it but can’t hold, it’ll head back down.
If it falls further and breaks below the 72,000 line in the sand, this trend is done for. Forget about a bull-market comeback.
Bitcoin has fallen this far, yet Binance’s long/short ratio is still high at around 2.8, and the funding rate is still positive.
That means bulls are still aggressively buying the dip—and even paying shorts funding fees.
At a time like this, unless the market makers completely liquidate these stubborn longs, it’ll be tough to get the rally going 😄
ETFs have seen net outflows for several days in a row, with even BlackRock pulling out tens of millions.
So don’t try to guess the bottom. Right now, the market offers “too little chance of winning, too little profit potential on either side, and a high risk of getting liquidated by a sharp wick in either direction.”
My strategy for now is to keep holding my existing spot position and not add to it yet.
I’ll keep holding my underwater short position in Bitcoin for now and close it when the right opportunity comes along. After all, I’m almost back to breakeven.
When the market is completely desperate, funding rates turn negative, and ETF outflows stop, I’ll get back in and scoop up blood-soaked bargains.
During this dead zone, keep your hands off the buttons. Not losing is as good as making money.$BTC $ETH $HYPE
