$BTC broke below 70 thousand… and the global market is no longer selling crypto, but everything high-risk. Here’s the news roundup.
$BTC fell to $68.3–68.5 thousand, its lowest level since August, after dropping nearly 7% in a single day.
First reason: U.S. inflation came in higher than expected, increasing the likelihood of a rate hike in December and pushing bond yields higher.
Second reason: The dollar is strong, and the #DXY index topped 103, putting pressure on non-yielding assets.
Third reason: Bitcoin funds #etf recorded outflows of nearly $1.44 billion in five days, with repeated outflows from IBIT.
Fourth reason: Liquidations exceeded $1.2 billion in 24 hours, most of them long positions.
Adding to this is Strategy’s removal from MSCI indices, which weakens treasury companies’ ability to inject fresh liquidity.
The biggest news: Jensen Huang’s resignation from NVIDIA added pressure to the technology and AI sectors.
The market is no longer looking for a story… it’s looking for liquidity.
The key level: Holding above $69 thousand could calm the panic; losing it opens the way to $65 thousand.
Is this the beginning of a crash… or peak fear before a rebound?
#BinancePick #BTC
$BTC fell to $68.3–68.5 thousand, its lowest level since August, after dropping nearly 7% in a single day.
First reason: U.S. inflation came in higher than expected, increasing the likelihood of a rate hike in December and pushing bond yields higher.
Second reason: The dollar is strong, and the #DXY index topped 103, putting pressure on non-yielding assets.
Third reason: Bitcoin funds #etf recorded outflows of nearly $1.44 billion in five days, with repeated outflows from IBIT.
Fourth reason: Liquidations exceeded $1.2 billion in 24 hours, most of them long positions.
Adding to this is Strategy’s removal from MSCI indices, which weakens treasury companies’ ability to inject fresh liquidity.
The biggest news: Jensen Huang’s resignation from NVIDIA added pressure to the technology and AI sectors.
The market is no longer looking for a story… it’s looking for liquidity.
The key level: Holding above $69 thousand could calm the panic; losing it opens the way to $65 thousand.
Is this the beginning of a crash… or peak fear before a rebound?
#BinancePick #BTC