Macro factors are putting heavy pressure on $BTC : the U.S. dollar and bond yields are both surging, while gold is also being sold off.
• $BTC around $71,000 this morning (13/11), down 3.8% over 24 hours and at its lowest in ~3 months; $ETH around $2,015, down 1.9% over 24 hours.
• DXY ~103.1 — its highest in 19 months; U.S. 10-year Treasury yields topped 5.1%.
• Gold fell below $4,000, to around $3,885/oz (down 2.9% in the session).
• Nvidia opened down 13% after CEO Jensen Huang resigned, and closed still down 4.3%; Nasdaq down 0.39%, S&P 500 down 0.35%.
• October CPI came in hot at +0.4% (forecast +0.3%); markets are pricing in an ~85–90% chance of the Fed raising rates by 25 basis points on 8–9/12; ETF $BTC saw net outflows for 5 consecutive sessions, totaling around $1.44 billion.
Key level to watch: U.S. PPI tonight at 20:30 Vietnam time (expected +0.4%); if it comes in hotter than forecast, pressure on risk assets could increase further. $BTC needs to hold the $70,500–$71,000 range, with nearby resistance at $73,000–$74,000.
This article is for market information and analysis only, not investment advice.
$BTC $ETH #Bitcoin #Crypto #Fed #PPI #Nvidia
• $BTC around $71,000 this morning (13/11), down 3.8% over 24 hours and at its lowest in ~3 months; $ETH around $2,015, down 1.9% over 24 hours.
• DXY ~103.1 — its highest in 19 months; U.S. 10-year Treasury yields topped 5.1%.
• Gold fell below $4,000, to around $3,885/oz (down 2.9% in the session).
• Nvidia opened down 13% after CEO Jensen Huang resigned, and closed still down 4.3%; Nasdaq down 0.39%, S&P 500 down 0.35%.
• October CPI came in hot at +0.4% (forecast +0.3%); markets are pricing in an ~85–90% chance of the Fed raising rates by 25 basis points on 8–9/12; ETF $BTC saw net outflows for 5 consecutive sessions, totaling around $1.44 billion.
Key level to watch: U.S. PPI tonight at 20:30 Vietnam time (expected +0.4%); if it comes in hotter than forecast, pressure on risk assets could increase further. $BTC needs to hold the $70,500–$71,000 range, with nearby resistance at $73,000–$74,000.
This article is for market information and analysis only, not investment advice.
$BTC $ETH #Bitcoin #Crypto #Fed #PPI #Nvidia