Bitcoin surged to 74,800 overnight but failed to hold there, then gave back yesterday’s gains in the early Asian session. This is still a rebound, not a trend reversal.
Bitcoin is now at 73,684, up about 0.2% over 24 hours. Ethereum is at 2,052, also up about 0.2%. Yesterday’s daily candle closed at 74,015, with a high of 74,811 and a low of 73,209. Today’s session opened at 8:00 at 74,015, and the price has already fallen back to around 73,650.
The U.S. October CPI remains the main focus these two days: headline inflation came in at 0.4% month over month and core inflation at 0.3%, both above expectations. A 25-basis-point rate cut in December is now largely priced in. U.S. stocks rose on Wednesday, with the Nasdaq up 1.6%, but crypto barely followed. This morning, Japan’s October corporate goods prices rose 7.1% year over year, also above expectations. Spot Bitcoin ETFs saw another outflow of about $30.1 million yesterday, following $95 million the day before. MSCI has confirmed that it will remove Strategy from its global indexes, effective after the November 30 close. This initially affects passive stock funds; it does not force the company to sell its Bitcoin. Initial jobless claims are due at 21:30 tonight, followed by PPI at the same time tomorrow. UK GDP and remarks from several Fed officials are also on today’s agenda.
First, watch whether the price can reclaim yesterday’s close at 74,015; then we can talk about the intraday high of 74,217 and yesterday’s high of 74,811. If it can’t hold, watch whether Sunday’s low of 73,510 holds. If that level breaks, the next level down is the previous low at 72,727.
Do you think 73,510 can hold during the Asian session today?
$BTC $ETH
#CPI above expectations, putting renewed pressure on U.S. stocks and BTC #比特币连续五周下跌 #Strategy may be removed from MSCI, facing up to $2.8 billion in selling
Bitcoin is now at 73,684, up about 0.2% over 24 hours. Ethereum is at 2,052, also up about 0.2%. Yesterday’s daily candle closed at 74,015, with a high of 74,811 and a low of 73,209. Today’s session opened at 8:00 at 74,015, and the price has already fallen back to around 73,650.
The U.S. October CPI remains the main focus these two days: headline inflation came in at 0.4% month over month and core inflation at 0.3%, both above expectations. A 25-basis-point rate cut in December is now largely priced in. U.S. stocks rose on Wednesday, with the Nasdaq up 1.6%, but crypto barely followed. This morning, Japan’s October corporate goods prices rose 7.1% year over year, also above expectations. Spot Bitcoin ETFs saw another outflow of about $30.1 million yesterday, following $95 million the day before. MSCI has confirmed that it will remove Strategy from its global indexes, effective after the November 30 close. This initially affects passive stock funds; it does not force the company to sell its Bitcoin. Initial jobless claims are due at 21:30 tonight, followed by PPI at the same time tomorrow. UK GDP and remarks from several Fed officials are also on today’s agenda.
First, watch whether the price can reclaim yesterday’s close at 74,015; then we can talk about the intraday high of 74,217 and yesterday’s high of 74,811. If it can’t hold, watch whether Sunday’s low of 73,510 holds. If that level breaks, the next level down is the previous low at 72,727.
Do you think 73,510 can hold during the Asian session today?
$BTC $ETH
#CPI above expectations, putting renewed pressure on U.S. stocks and BTC #比特币连续五周下跌 #Strategy may be removed from MSCI, facing up to $2.8 billion in selling