Woke up to a screen full of red. $BTC 24 hours later, it was down 4.13%, plunging straight to 68298 dollars and even breaking below the 200-week moving average. The Fear & Greed Index was down to just 18: extreme fear.
U.S. stocks weren’t doing much better. Crypto and U.S. stocks fell together, and U.S. crypto ETFs saw net outflows of 1.48 billion dollars over five days as institutions headed for the exits.
But it wasn’t all bad news: U.S. PPI came in at 6.5% year over year, below expectations, easing inflation pressure a little. The uncertainty around a December rate hike may have eased somewhat.
Keep an eye on two levels today: can $BTC reclaim 70,000 dollars? If not, there may be more downside. $ETH 1933 dollars and SOL at 78 dollars are both short-term battleground levels for bulls and bears. Don’t get carried away in extreme fear—the volatility is huge, so participate with caution.
#CryptoAndUSStocksBothFallWhereWillTheNextReboundGetItsMomentum
U.S. stocks weren’t doing much better. Crypto and U.S. stocks fell together, and U.S. crypto ETFs saw net outflows of 1.48 billion dollars over five days as institutions headed for the exits.
But it wasn’t all bad news: U.S. PPI came in at 6.5% year over year, below expectations, easing inflation pressure a little. The uncertainty around a December rate hike may have eased somewhat.
Keep an eye on two levels today: can $BTC reclaim 70,000 dollars? If not, there may be more downside. $ETH 1933 dollars and SOL at 78 dollars are both short-term battleground levels for bulls and bears. Don’t get carried away in extreme fear—the volatility is huge, so participate with caution.
#CryptoAndUSStocksBothFallWhereWillTheNextReboundGetItsMomentum