The midday low didn’t hold into the afternoon: $BTC hit a new low for the day at 67,568 on heavy volume at 13:56, then rebounded to around 69,000. It’s now around 68,830 (24-hour change: -6.05%).
On Binance spot, the midday low of around 68,307 at 13:00 was breached again. $ETH also hit a new low for the day at 1,895.95 at 13:56, and is now around 1,936 (24-hour change: -5.09%). A rebound followed 14:00: BTC reached around 69,371 at 15:01, while ETH touched around 1,947.69 at 15:11. Both stayed within that rebound range for the next few hours, without making new lows. Farside’s U.S. spot BTC ETF data for 11/12 is still incomplete; reported net outflows are around $47.7 million. Tonight at 21:30 (8:30 a.m. Eastern), the U.S. Bureau of Labor Statistics will release October PPI. The CME Econoday consensus is around +0.4% month over month overall and +0.3% for core, compared with previous readings of +1.3% and +0.7%, respectively.
After tonight’s PPI release, will you first watch to see whether prices retest today’s low of 67,568, or whether this rebound can first move above the 15:01 high of 69,371?
Data sources: Binance spot, Farside Investors, U.S. Bureau of Labor Statistics, CME Econoday. Not investment advice.
$BTC $ETH
#PPI #Crypto Market
On Binance spot, the midday low of around 68,307 at 13:00 was breached again. $ETH also hit a new low for the day at 1,895.95 at 13:56, and is now around 1,936 (24-hour change: -5.09%). A rebound followed 14:00: BTC reached around 69,371 at 15:01, while ETH touched around 1,947.69 at 15:11. Both stayed within that rebound range for the next few hours, without making new lows. Farside’s U.S. spot BTC ETF data for 11/12 is still incomplete; reported net outflows are around $47.7 million. Tonight at 21:30 (8:30 a.m. Eastern), the U.S. Bureau of Labor Statistics will release October PPI. The CME Econoday consensus is around +0.4% month over month overall and +0.3% for core, compared with previous readings of +1.3% and +0.7%, respectively.
After tonight’s PPI release, will you first watch to see whether prices retest today’s low of 67,568, or whether this rebound can first move above the 15:01 high of 69,371?
Data sources: Binance spot, Farside Investors, U.S. Bureau of Labor Statistics, CME Econoday. Not investment advice.
$BTC $ETH
#PPI #Crypto Market