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Bitcoin's short-term support: $68,500–$69,500; short-term resistance: $72,500–$73,500
Ethereum's short-term support: $1,950–$1,980; short-term resistance: $2,100–$2,150

On the news front, Boss Huang has finally been ousted—he couldn't even keep his board seat. Another night of carnage. The main reasons Bitcoin fell below the $72,000 bull-bear dividing line are: first, news that Nvidia CEO Jensen Huang was resigning triggered a sharp drop in tech stocks and spilled over into risk assets, though this was only the catalyst. Second, following the Binance hack, hackers continued selling off BTC, ETH, and other assets to cash out on a large scale, rapidly increasing selling pressure from the supply side in the short term. U.S. spot Bitcoin ETFs saw net outflows for the fifth consecutive day (around $300 million in a single day, and around $1.44 billion over five days), causing demand to shrink significantly. This combination of increased supply and reduced demand is the main reason for the severe imbalance between Bitcoin's supply and demand. Third, liquidations of large numbers of long positions further intensified market panic, with the Fear and Greed Index holding around 28 (the fear zone).

Technically, Bitcoin has taken a severe hit and fallen below the $72,000 bull-bear line. If it can't reclaim that level soon, we really could be heading back into a bear market. Looking at the candlestick chart, even after a $15,000 pullback, there still haven't been any wick formations on the 15-minute timeframe or higher, which suggests the bottom may still be some way off. First, watch the battle around $70,000. If that level doesn't hold, Bitcoin may well look for support in the $68,500–$69,500 range.

Ethereum has already fallen below $2,000 intraday and is now trading above $2,000. Some buying has appeared intraday, but we still need to see whether Bitcoin will continue to fall. Support: $1,850–$1,950. #黄仁勋辞任CEO，英伟达战略走向受关注 $BTC

Strategy, the world’s largest Bitcoin-holding company, has been officially removed from MSCI indexes.

An hour after the announcement, BTC fell 1% to $73,930.

Passive funds must liquidate their holdings by November 30.
JPMorgan estimates selling pressure could reach as much as $2.8 billion.

Strategy is one of the key channels for institutional investment in BTC.
With that channel cut off, BTC loses another source of liquidity.#黄仁勋再被曝与下属婚外情，或遭董事会罢免

Bitcoin's short-term support: $72,600–$73,300; short-term resistance: $74,800–$75,500
Ethereum's short-term support: $1,950–$2,000; short-term resistance: $2,100–$2,150

On the news front, Bitcoin took its sixth major hit today: MicroStrategy's removal from the global standard index is now all but certain. This is a landmark event, because MicroStrategy's entire business revolves around Bitcoin. Its removal signals that traditional capital is no longer bullish on Bitcoin. But this is the final blow. Meanwhile, things have gotten worse for Huang: reports have emerged of another alleged affair, and Nvidia may remove him as CEO. Trump, who has strongly backed him, has also left Huang off the list of people joining the Shenzhen trip. Nvidia plunged another 9%. In my view, Nvidia won't collapse just because Huang has a second scandal; rather, a black swan event could present a buying opportunity.

Technically, $72,000–$73,000 is a key medium- to long-term support zone, as well as the 0.5 Fibonacci level. If this support holds, at least one rebound is likely. Resistance lies at $75,500–$76,500. Bitcoin must break through this resistance zone to have a chance of turning things around. Otherwise, it could wick down to $68,500–$69,500. But if it can't quickly get back above $72,000, Leng Feng believes the downtrend will probably have run its course. Bitcoin is now at a critical moment of survival: one step forward means life; one step back means death.

Ethereum is following Bitcoin's movements, but its price action is clearly weaker. The key support below is $1,950, and the key resistance above is $2,150. #CPI高于预期，美股与BTC再度承压 $BTC

Bitcoin short-term support: $72,000–$73,000; short-term resistance: $74,500–$75,500
Ethereum short-term support: $1,950–$2,000; short-term resistance: $2,100–$2,150

On the news front, the U.S. October CPI figures came in above expectations, making a rate hike in December a foregone conclusion. Some believe it could be a 50-basis-point hike—you can see just how desperate the market is. This is also the fifth blow Bitcoin has taken since late October. On the positive side, U.S.-Russia-Ukraine talks and U.S.-Iran talks are both underway, and crude oil has already fallen 20%. It’s still possible that next month’s CPI data will improve, so a 25-basis-point hike in December is the most likely outcome, while the odds of a 50-basis-point hike are not high. In my view, though, what’s troubling the crypto market most right now is the lack of liquidity. When will the ongoing outflows finally turn around?

Technically, Bitcoin is now stuck between the 6-month and 1-year moving averages, directly testing the bull-bear dividing line at $72,000–$73,000. Cold Wind has repeatedly stressed that Bitcoin must not break below $72,000. If it does, Bitcoin will be back in a bear market, with the next support at $68,500–$69,500. But crises often bring opportunities. Structurally, $72,000–$73,000 is key medium- to long-term support. The 250-day moving average is around $72,800, and the 30-week moving average is around $73,300. This should be the best level for a rebound. If Bitcoin can hold above it, this could be a good opportunity for a third-wave rally, with the first target around $95,000.

Ethereum is the worst of the worst; it always falls apart at critical moments. This time, it was the first to drop again. Watch the $1,950–$2,000 support. Altcoins aren’t especially bearish yet: first, there’s been no collapse; second, they’ve tended to rebound quickly after each drop. #CPI高于预期，美股与BTC再度承压

November 10 Cold Wind Community Crypto News Flash

🔥The overall market is gripped by fear: U.S. stocks surged, but crypto weakened! BTC ETFs saw massive weekly outflows of $1.282 billion, bulls were brutally wiped out, and $1.2 billion in positions were liquidated across the market in 24 hours. The entire market is waiting for tonight’s CPI to set the direction.
✨Market conditions are sharply divided! Major coins are under pressure amid volatility, and ETH continues to fall. AVAX surged against the trend after securing a key technology partnership with the NYSE, while AI-themed meme coin SI soared nearly 40% in a single day.
📌Hot topics in the crypto community: The Ethereum Foundation dumped tokens again, while Machi Big Brother took heavy losses and closed out his positions. Regulators at home and abroad continue to tighten oversight. In the current market, only selective short-term opportunities are available; overall, it’s best to limit exposure and wait on the sidelines.

⚠️Risk warning: This is not investment advice. Crypto is extremely volatile; trade with caution.#CPI前瞻，12月利率走向迎关键考验

Tonight at 21:30 Beijing time, the US will release its October CPI report.

1. The market expects month-over-month growth of around 0.3%, and core CPI growth of around 0.2%, both below September’s 0.6% and 0.3%. Because of the government shutdown during the same period last year, there will be no year-over-year figures this time, so the market will pay closer attention to the month-over-month data;

2. This is the last CPI report before the December policy meeting. The November report won’t be released until December 10, while the meeting is scheduled for December 8–9;

3. Gasoline prices had already fallen by more than 4% in October, and oil prices dropped further last night. Whether this will continue to feed through to prices remains to be seen in the data itself.#CPI前瞻，12月利率走向迎关键考验

Bitcoin’s short-term support is $72,500–$73,500; short-term resistance is $76,000–$77,000
Ethereum’s short-term support is $1,950–$2,050; short-term resistance is $2,300–$2,350

On the news front, U.S.-Iran peace talks seem to have made progress, and oil prices plunged. After the U.S. market opened last night, Nvidia was the only one buying for Mr. Huang, and all three major U.S. stock indexes rebounded. The Nasdaq rose 2.6%, the S&P 500 gained 2.3%, and the Dow climbed more than 1,000 points. But there was only one other big loser: Bitcoin. I really can’t make sense of it. Stocks across the board have stopped falling, while you’re a cryptocurrency, an outlier—so why are you getting dragged down too? I just don’t get it. CPI is due to be released soon; who knows what will happen? Personally, I think the Binance hack drained liquidity from the crypto market, leaving no buyers.

Technically, looking at the candlestick chart, Bitcoin was slammed twice near $73,300 and $73,700, but both times it bounced back, forming a double-pin-bar pattern on the daily chart. This suggests that support around $73,000 is holding, in line with Cold Wind’s view that $72,000–$73,000 is medium- to long-term support. However, the price couldn’t climb past around $75,500, which is where this latest decline began. Its inability to break higher suggests that bullish momentum is weakening. On-chain data shows that ETFs saw $1.28 billion in outflows in a single week. Unless the funding situation improves, it will be difficult for the bulls to mount an effective rally.
In my view, structurally, the $72,000–$73,000 support remains solid, so a rebound is possible. But looking at the funding situation, everything is in place except the crucial final ingredient—without it, even Zhou Yu would be powerless. My trading advice: neither add nor reduce your position; set a stop-loss and wait for a rebound.

Ethereum is the worst of the worst. It never leads on the way up, but when prices fall, it’s the weakest of them all. Whenever things reach a critical point, it just falls apart. Watch the $1,950–$2,050 support. #CPI前瞻，12月利率走向迎关键考验

Bitcoin’s short-term support is $72,700–$73,300, with short-term resistance at $76,200–$77,000.
Ethereum’s short-term support is $1,950–$2,050, with short-term resistance at $2,250–$2,350.
On the news front, the biggest story this morning is that Jensen Huang allegedly had an affair and Nvidia chips were stolen. This has undoubtedly dealt Nvidia’s stock a heavy blow, hitting AI stocks that were already teetering. What’s more, the already fragile crypto market has fallen at the first sign of trouble. This is the fourth blow the crypto market has taken since the end of October. Also, the probability of an interest-rate hike in December has reached 81.5%, making it all but inevitable that the market will have to endure high interest rates. But whether the U.S.–Iran conflict can be brought to a halt is key to inflation coming down. On the one hand, Trump has stressed five times that if a deal is reached, a U.S. attack on Iran is highly unlikely. On the other hand, the U.S. has sent more aircraft carriers and fighter jets to the Strait of Hormuz. It’s hard to tell whether peace will arrive first or war will break out first, and the market isn’t pricing in this uncertainty.

Technically, Bitcoin made a sharp dip to around $73,300. Looking at the moving averages, the 250-day moving average provides support around $72,700, while the 30-week moving average supports the price around $73,300. This level is not only a medium- to long-term support zone, but also where the bull-bear dividing line of $72,000–$73,000 lies. Lengfeng’s view remains unchanged: on the one hand, Bitcoin will likely rebound after dropping to this level, but unless it quickly recovers $79,500, it will remain under short-term pressure. On the other hand, if it decisively breaks below the $72,000–$73,000 bull-bear dividing line, I personally will no longer have hope for the market. You could say we’re at a point where opportunity and risk coexist. Will you choose courage or caution?

Ethereum has already fallen below its yearly moving average, and right now it’s a real weakling. The first to collapse wasn’t an altcoin or Bitcoin, but this seemingly respectable heavyweight. Vitalik is also a hopeless romantic, probably just like Mr. Huang. The next support zone is $1,950–$2,050. Altcoins have held up pretty well during this second downturn. Could spring be coming for altcoins again? #比特币连续五周下跌 $BTC