This chain of events is worth understanding for anyone holding altcoins.
October CPI came in hotter than expected across the board, with core CPI up 0.3% month over month, immediately sparking fears of a Fed rate hike in December.
$BTC fell below $73,000 in response, and the total crypto market cap shrank by $40 billion in a single day.
But the biggest loser wasn’t Bitcoin—it was $ZEC , which plunged 13% in 24 hours, fell below $1,000, and returned to the triple-digit range for the first time since early September.
During a macro-driven liquidity drain, the most dangerous assets aren’t those that have fallen the most, but those that have fallen sharply while still carrying significant leverage. ZEC’s open interest remains elevated, suggesting this deleveraging may not be over yet.
At times like this, rather than trying to call the bottom, it’s better to shift your attention to things that don’t rely on risk appetite to survive. Macro forces can kill leverage, but they can’t kill genuine communities. $AGT
#Zcash自9月以来首次跌破1000美元 #Anthropic拒绝延期IPO，本周路演估值几何？ #CPI高于预期，美股与BTC再度承压
October CPI came in hotter than expected across the board, with core CPI up 0.3% month over month, immediately sparking fears of a Fed rate hike in December.
$BTC fell below $73,000 in response, and the total crypto market cap shrank by $40 billion in a single day.
But the biggest loser wasn’t Bitcoin—it was $ZEC , which plunged 13% in 24 hours, fell below $1,000, and returned to the triple-digit range for the first time since early September.
During a macro-driven liquidity drain, the most dangerous assets aren’t those that have fallen the most, but those that have fallen sharply while still carrying significant leverage. ZEC’s open interest remains elevated, suggesting this deleveraging may not be over yet.
At times like this, rather than trying to call the bottom, it’s better to shift your attention to things that don’t rely on risk appetite to survive. Macro forces can kill leverage, but they can’t kill genuine communities. $AGT
#Zcash自9月以来首次跌破1000美元 #Anthropic拒绝延期IPO，本周路演估值几何？ #CPI高于预期，美股与BTC再度承压
