Black Friday, and BTC really lived up to the occasion.
Bitcoin fell below $69,000 today, hitting a low of $68,586. It’s down 6.8% in 24 hours, its lowest price since August. $ETH also fell below $2,000, and is now around $1,936.
But the three numbers worth watching most aren’t prices:
1️⃣ $1.41 billion in liquidations over 24 hours, 89% of them long positions, with 173,000 traders liquidated. The largest was a $31.1 million long on Hyperliquid—wiped out in a single trade.
2️⃣ The Fear and Greed Index fell to 20, indicating extreme fear. $BTC ’s daily RSI is just 23.6, technically in oversold territory. Note: oversold doesn’t mean we’ve hit bottom; it just means this wave of selling has been exceptionally sharp.
3️⃣ Bitcoin is now down 45% from its October 6 all-time high of $126,080, and has fallen below its 200-day moving average of $73,100.
Tonight at 21:30, the US October PPI data will be released. The market expects year-over-year growth of 6.6%, up from 6.3% previously. If inflation comes in hotter than expected, the odds of a Fed rate hike in December could rise further, and crypto prices may take another hit. If it comes in below expectations, that could offer the first respite in an oversold bounce.
📍Key price levels / Signals to watch next
Support: Around $68,500 (near today’s low); if that gives way, watch $68,000
Resistance: $71,700 (intraday VWAP); getting back above this level would signal that the slide is stabilizing. Above that, $73,000
Signals: Tonight’s PPI data, whether ETF net outflows stop, and whether the pace of liquidations slows
Just analysis; I have no positions. When fear is extreme, are you waiting for a signal or have you already made a move?
#比特币 #以太坊 #极度恐惧 #PPI
This is for personal analysis only and does not constitute investment advice.
Bitcoin fell below $69,000 today, hitting a low of $68,586. It’s down 6.8% in 24 hours, its lowest price since August. $ETH also fell below $2,000, and is now around $1,936.
But the three numbers worth watching most aren’t prices:
1️⃣ $1.41 billion in liquidations over 24 hours, 89% of them long positions, with 173,000 traders liquidated. The largest was a $31.1 million long on Hyperliquid—wiped out in a single trade.
2️⃣ The Fear and Greed Index fell to 20, indicating extreme fear. $BTC ’s daily RSI is just 23.6, technically in oversold territory. Note: oversold doesn’t mean we’ve hit bottom; it just means this wave of selling has been exceptionally sharp.
3️⃣ Bitcoin is now down 45% from its October 6 all-time high of $126,080, and has fallen below its 200-day moving average of $73,100.
Tonight at 21:30, the US October PPI data will be released. The market expects year-over-year growth of 6.6%, up from 6.3% previously. If inflation comes in hotter than expected, the odds of a Fed rate hike in December could rise further, and crypto prices may take another hit. If it comes in below expectations, that could offer the first respite in an oversold bounce.
📍Key price levels / Signals to watch next
Support: Around $68,500 (near today’s low); if that gives way, watch $68,000
Resistance: $71,700 (intraday VWAP); getting back above this level would signal that the slide is stabilizing. Above that, $73,000
Signals: Tonight’s PPI data, whether ETF net outflows stop, and whether the pace of liquidations slows
Just analysis; I have no positions. When fear is extreme, are you waiting for a signal or have you already made a move?
#比特币 #以太坊 #极度恐惧 #PPI
This is for personal analysis only and does not constitute investment advice.