📡 BTC Breaks Below 72K As Selling Deepens
Bitcoin trades near 71,000, down about 3.5% in 24 hours after breaking below 72,000 overnight. The slide took price to a low near 70,600, the weakest level since August. Ethereum sits near 2,020, down about 2%, while Solana trades near 82, down about 2%.
Spot BTC ETFs lost about 300 million dollars on Wednesday, a fifth straight day of outflows that now totals about 1.44 billion since November 5. BlackRock's IBIT accounted for about 270 million of that day, its ninth straight session of redemptions. Spot ETH ETFs shed about 145 million the same day, also a fifth straight outflow.
MSCI confirmed it will remove Strategy from its global indexes at the close on November 30, with Metaplanet and Upexi also set for deletion. JPMorgan estimates the move could trigger about 2.8 billion dollars in passive outflows from MSTR, though it does not force Strategy to sell any of its 850,364 Bitcoin. MSTR fell about 2.6% after hours on the news.
Jobless claims rose to 200,000 against 195,000 expected, still low by historic standards. October PPI lands tonight, with consensus near 0.4% month on month after a hot CPI print, and December hike odds still priced near 90%.
👀 Support 70,600 and 70,000. Resistance 73,200 and 75,000.
Whether the 70,000 level holds into the PPI print may set the tone for the rest of the week, so the next session is worth watching closely.
📌 Personal opinion, not financial advice. DYOR.
#BTC #Crypto #CryptoMarket #ETF
$BTCUSDT $ETHUSDT $SOLUSDT
Bitcoin trades near 71,000, down about 3.5% in 24 hours after breaking below 72,000 overnight. The slide took price to a low near 70,600, the weakest level since August. Ethereum sits near 2,020, down about 2%, while Solana trades near 82, down about 2%.
Spot BTC ETFs lost about 300 million dollars on Wednesday, a fifth straight day of outflows that now totals about 1.44 billion since November 5. BlackRock's IBIT accounted for about 270 million of that day, its ninth straight session of redemptions. Spot ETH ETFs shed about 145 million the same day, also a fifth straight outflow.
MSCI confirmed it will remove Strategy from its global indexes at the close on November 30, with Metaplanet and Upexi also set for deletion. JPMorgan estimates the move could trigger about 2.8 billion dollars in passive outflows from MSTR, though it does not force Strategy to sell any of its 850,364 Bitcoin. MSTR fell about 2.6% after hours on the news.
Jobless claims rose to 200,000 against 195,000 expected, still low by historic standards. October PPI lands tonight, with consensus near 0.4% month on month after a hot CPI print, and December hike odds still priced near 90%.
👀 Support 70,600 and 70,000. Resistance 73,200 and 75,000.
Whether the 70,000 level holds into the PPI print may set the tone for the rest of the week, so the next session is worth watching closely.
📌 Personal opinion, not financial advice. DYOR.
#BTC #Crypto #CryptoMarket #ETF
$BTCUSDT $ETHUSDT $SOLUSDT
