【In-Depth Analysis | BTC Falls Below $70K: The Real Culprit Isn’t Hackers, It’s the Fed】
$BTC fell below $70,000, hitting its lowest level since August, while liquidations across the crypto market topped $1.6 billion; $ETH fell below $2,000, and the Fear & Greed Index dropped to 20, entering the “Extreme Fear” zone.
A Coinbase institutional research report says the main driver of this downturn is a shift in expectations for Fed policy: October nonfarm payrolls and CPI both came in above expectations, and markets have fully priced in a 25-basis-point rate hike in December, with a cumulative 64 basis points of hikes over the next 12 months. A stronger dollar continues to weigh on risk assets; the Binance hack was not the main cause.
Three signs confirm the tightening liquidity picture:
• Spot BTC ETFs saw net outflows of about $880 million this week, with IBIT posting outflows for four consecutive days
• Stablecoin supply shrank by a record $11.5 billion over 30 days
• MSCI announced that it will remove Strategy from its major indexes on December 1, potentially triggering $2.8 billion in selling pressure
Key levels: After losing $73,000, Coinbase warned that continued weakness could take BTC down to the $66,000–$68,000 support zone. BTC has already touched $68,000.
Extreme fear has historically been a contrarian signal, but with rate hikes looming, institutions are leaning toward cash. Are you buying more as prices fall, or waiting for confirmation of a reversal? Share your thoughts in the comments 👇
NFA | DYOR
#BTC #比特币 #加密货币 #ETF #FederalReserve
$BTC fell below $70,000, hitting its lowest level since August, while liquidations across the crypto market topped $1.6 billion; $ETH fell below $2,000, and the Fear & Greed Index dropped to 20, entering the “Extreme Fear” zone.
A Coinbase institutional research report says the main driver of this downturn is a shift in expectations for Fed policy: October nonfarm payrolls and CPI both came in above expectations, and markets have fully priced in a 25-basis-point rate hike in December, with a cumulative 64 basis points of hikes over the next 12 months. A stronger dollar continues to weigh on risk assets; the Binance hack was not the main cause.
Three signs confirm the tightening liquidity picture:
• Spot BTC ETFs saw net outflows of about $880 million this week, with IBIT posting outflows for four consecutive days
• Stablecoin supply shrank by a record $11.5 billion over 30 days
• MSCI announced that it will remove Strategy from its major indexes on December 1, potentially triggering $2.8 billion in selling pressure
Key levels: After losing $73,000, Coinbase warned that continued weakness could take BTC down to the $66,000–$68,000 support zone. BTC has already touched $68,000.
Extreme fear has historically been a contrarian signal, but with rate hikes looming, institutions are leaning toward cash. Are you buying more as prices fall, or waiting for confirmation of a reversal? Share your thoughts in the comments 👇
NFA | DYOR
#BTC #比特币 #加密货币 #ETF #FederalReserve