This morning, people were saying it was just $789 away from $70,000. By afternoon, $70,000 was gone.
$BTC plunged straight through $70,000 today, hitting a low of $67,568. It’s down 6.66% in 24 hours and currently at $68,770—about 46.5% below its October 6 all-time high of $126,223.
$ETH also failed to hold $2,000, dipping to a low of $1,895.95. It’s down 5.61% in 24 hours and currently at $1,936.61.
They weren’t the only ones falling: BNB is down 6.68%, SOL is down 3.55%, and the Fear Index dropped to 20 today—extreme fear.
Long positions took the hardest hit in this sell-off: around $454 million in BTC contracts were liquidated over 24 hours, about 96% of them longs.
At 9:30 p.m. tonight, the U.S. October PPI will be released. The market expects 6.6% year over year and 0.4% month over month. October CPI already came in hotter than expected; if PPI also beats expectations, the odds of a 25-basis-point rate hike in December are about 90.8%.
The next level to watch: after the PPI release, will $BTC reclaim $70,000 first, or test the low of $67,568 first? This is not investment advice.
$BTC plunged straight through $70,000 today, hitting a low of $67,568. It’s down 6.66% in 24 hours and currently at $68,770—about 46.5% below its October 6 all-time high of $126,223.
$ETH also failed to hold $2,000, dipping to a low of $1,895.95. It’s down 5.61% in 24 hours and currently at $1,936.61.
They weren’t the only ones falling: BNB is down 6.68%, SOL is down 3.55%, and the Fear Index dropped to 20 today—extreme fear.
Long positions took the hardest hit in this sell-off: around $454 million in BTC contracts were liquidated over 24 hours, about 96% of them longs.
At 9:30 p.m. tonight, the U.S. October PPI will be released. The market expects 6.6% year over year and 0.4% month over month. October CPI already came in hotter than expected; if PPI also beats expectations, the odds of a 25-basis-point rate hike in December are about 90.8%.
The next level to watch: after the PPI release, will $BTC reclaim $70,000 first, or test the low of $67,568 first? This is not investment advice.
