11-13
📉 Market Snapshot
$BTC is around 71,590, down 3.9%; its intraday low of 71,255 marked a nearly 12-week low, and it decisively broke below both the 200-day moving average at 73,163 and the 21-week moving average at 73,078. $ETH is around 2,021, down 2.6%; it briefly fell below 2,000 intraday, to 1,984. Total market cap is around $2.42 trillion, down 5.2%; the Fear & Greed Index is at 28, still in fear territory.
💰 Fund Flows
U.S. spot ETFs saw another outflow of around $300 million on November 11, marking the fifth consecutive day. Outflows for November total around $1.9 billion, with one BlackRock fund accounting for $270 million. Around $720 million in liquidations occurred across the market over the past 24 hours, 89% of them long positions. $BTC alone saw $285 million in liquidations, 95% of which were long positions.
📰 Key News
① Nvidia CEO Jensen Huang resigns; the stock opened down 13% at around $156, about 35% below its October high. Around $600 billion in market cap has evaporated this week, and Bernstein has slashed its price target in half to $200;
② October PPI will be released tonight at 21:30. Expectations are +0.4% month over month and +0.3% for core PPI. After CPI came in above expectations, the probability of a 25-basis-point rate hike in December has risen above 85%. Another hotter-than-expected PPI would be a second blow;
③ Around 33,000 Deribit options expire today at 16:00, with a max pain point of 76,000. The current price is about $4,400 below that level;
④ Strategy's cost basis is 75,456, and the current price is about $3,900 below it. Before MSCI's removal takes effect on November 30, any rebound should first be viewed as a window to reduce exposure.
📊 Top Movers
Broad-based sell-off: $ZEC continued to slide after breaking below 1,000, reaching around 943 amid extreme fear. Almost all of the top 100 are in the red; only a handful of coins are bucking the trend.
💡 In a Nutshell
73,163 has been breached, and 70,000 is just ahead; if 70,000 breaks, watch 68,000. Unless a rebound gets back above 73,163, treat it as a relief rally. Don't go heavily long ahead of PPI—trying to catch the bottom now is like licking a knife.
📉 Market Snapshot
$BTC is around 71,590, down 3.9%; its intraday low of 71,255 marked a nearly 12-week low, and it decisively broke below both the 200-day moving average at 73,163 and the 21-week moving average at 73,078. $ETH is around 2,021, down 2.6%; it briefly fell below 2,000 intraday, to 1,984. Total market cap is around $2.42 trillion, down 5.2%; the Fear & Greed Index is at 28, still in fear territory.
💰 Fund Flows
U.S. spot ETFs saw another outflow of around $300 million on November 11, marking the fifth consecutive day. Outflows for November total around $1.9 billion, with one BlackRock fund accounting for $270 million. Around $720 million in liquidations occurred across the market over the past 24 hours, 89% of them long positions. $BTC alone saw $285 million in liquidations, 95% of which were long positions.
📰 Key News
① Nvidia CEO Jensen Huang resigns; the stock opened down 13% at around $156, about 35% below its October high. Around $600 billion in market cap has evaporated this week, and Bernstein has slashed its price target in half to $200;
② October PPI will be released tonight at 21:30. Expectations are +0.4% month over month and +0.3% for core PPI. After CPI came in above expectations, the probability of a 25-basis-point rate hike in December has risen above 85%. Another hotter-than-expected PPI would be a second blow;
③ Around 33,000 Deribit options expire today at 16:00, with a max pain point of 76,000. The current price is about $4,400 below that level;
④ Strategy's cost basis is 75,456, and the current price is about $3,900 below it. Before MSCI's removal takes effect on November 30, any rebound should first be viewed as a window to reduce exposure.
📊 Top Movers
Broad-based sell-off: $ZEC continued to slide after breaking below 1,000, reaching around 943 amid extreme fear. Almost all of the top 100 are in the red; only a handful of coins are bucking the trend.
💡 In a Nutshell
73,163 has been breached, and 70,000 is just ahead; if 70,000 breaks, watch 68,000. Unless a rebound gets back above 73,163, treat it as a relief rally. Don't go heavily long ahead of PPI—trying to catch the bottom now is like licking a knife.