THE MARKET ISN’T BUYING THE IDEA THAT INFLATION HAS IMPROVED
જ⁀➴
The US inflation figure came in slightly below expectations, at 6.5 percent versus the 6.6 percent forecast. Bitcoin even tried to celebrate, jumping to $70,000, but the excitement lasted just two hours before the price plunged to $68,100.
The reason is brutal. Inflation is still extremely high, and the probability of an interest rate hike in December is 89 percent. Capital is fleeing risk. There are no new buyers, ETFs saw $300 million in outflows, and stablecoins are becoming scarce. Leverage was wiped out, with more than $900 million liquidated in a single day.
The front line is the $67,750 support level. If it gives way, the market will seek liquidity between $62,000 and $66,000. To turn things around, BTC needs to recover $69,900 and then $73,100. The trend is bearish. Gold and silver are stagnant. Will support hold, or will the bloodbath continue?
$AKE
$BTC
$SHELL
#USPPIMissMayEaseBTCPressure
Follow the page and turn on notifications. Don’t be late. Whatever the next update is, I’ll post it here first.
જ⁀➴
The US inflation figure came in slightly below expectations, at 6.5 percent versus the 6.6 percent forecast. Bitcoin even tried to celebrate, jumping to $70,000, but the excitement lasted just two hours before the price plunged to $68,100.
The reason is brutal. Inflation is still extremely high, and the probability of an interest rate hike in December is 89 percent. Capital is fleeing risk. There are no new buyers, ETFs saw $300 million in outflows, and stablecoins are becoming scarce. Leverage was wiped out, with more than $900 million liquidated in a single day.
The front line is the $67,750 support level. If it gives way, the market will seek liquidity between $62,000 and $66,000. To turn things around, BTC needs to recover $69,900 and then $73,100. The trend is bearish. Gold and silver are stagnant. Will support hold, or will the bloodbath continue?
$AKE
$BTC
$SHELL
#USPPIMissMayEaseBTCPressure
Follow the page and turn on notifications. Don’t be late. Whatever the next update is, I’ll post it here first.
