BTC stuck around $73,700 — and this time, leverage still hasn’t been “flushed out” 📉
Bitcoin is still trading sideways around $73,600–$73,700, despite the recovery in U.S. stocks. CryptoQuant warns that this correction hasn’t triggered a leverage reset like previous downturns — meaning liquidation risk is still hanging over the market.
CryptoQuant’s Bull Score has fallen to 0, miners’ BTC reserves have dropped to ~1.19 million BTC, while exchange inflows have reached their highest level in 9 months. The daily RSI is at ~34, near oversold territory but not there yet.
Levels to watch:
🟢 Support: $73,500, followed by $72,700–$73,000 (200-day MA at ~$73,150)
🔴 Resistance: $75,565 (9-day MA), followed by $75,717 — the cost basis of short-term holders
The next catalyst: U.S. PPI data due today, after hotter-than-expected October CPI pushed the probability of a Fed rate hike in December to ~87%.
Biggest loser among the top 100 coins today: $ENA (Ethena), down 7.25% to ~$0.1415, and down more than 20% over the past 7 days.
Do you think BTC will hold $73,000 or break below to $70,000 first? 👇
#Bitcoin #CryptoNews #BTC #ENA
This is market information, not investment advice.
Bitcoin is still trading sideways around $73,600–$73,700, despite the recovery in U.S. stocks. CryptoQuant warns that this correction hasn’t triggered a leverage reset like previous downturns — meaning liquidation risk is still hanging over the market.
CryptoQuant’s Bull Score has fallen to 0, miners’ BTC reserves have dropped to ~1.19 million BTC, while exchange inflows have reached their highest level in 9 months. The daily RSI is at ~34, near oversold territory but not there yet.
Levels to watch:
🟢 Support: $73,500, followed by $72,700–$73,000 (200-day MA at ~$73,150)
🔴 Resistance: $75,565 (9-day MA), followed by $75,717 — the cost basis of short-term holders
The next catalyst: U.S. PPI data due today, after hotter-than-expected October CPI pushed the probability of a Fed rate hike in December to ~87%.
Biggest loser among the top 100 coins today: $ENA (Ethena), down 7.25% to ~$0.1415, and down more than 20% over the past 7 days.
Do you think BTC will hold $73,000 or break below to $70,000 first? 👇
#Bitcoin #CryptoNews #BTC #ENA
This is market information, not investment advice.
