$BTC went under 80k. Buyers stepped in.
CPI came in at 3.7%. PPI hit 6.3%, highest in four years. Both hotter than people expected.
Longs got liquidated. Around 900M. Mostly guys who were betting price keeps going up.
Fed already raised rates once in September. Next meeting is October 27-28. These are the last big inflation numbers before they decide.
Some people think they skip October. Others say the numbers are too hot so they move. Energy is still the main thing. If it cools fast they can wait. If it stays high they have less room.
Higher US rates pull money from risk assets everywhere. Same story here, just shows up a bit later depending on how much leverage people are running.
I think they hold in October. Hot but not big enough for a surprise hike. December looks more likely if the next data stays firm.
Bitcoin found buyers under 80k. That doesn’t cancel the inflation numbers. Rates stay higher until the Fed says something clear. The October meeting will show how patient they actually are.
#BTC Price Analysis# #CMC Quest: Earn Rewards#
CPI came in at 3.7%. PPI hit 6.3%, highest in four years. Both hotter than people expected.
Longs got liquidated. Around 900M. Mostly guys who were betting price keeps going up.
Fed already raised rates once in September. Next meeting is October 27-28. These are the last big inflation numbers before they decide.
Some people think they skip October. Others say the numbers are too hot so they move. Energy is still the main thing. If it cools fast they can wait. If it stays high they have less room.
Higher US rates pull money from risk assets everywhere. Same story here, just shows up a bit later depending on how much leverage people are running.
I think they hold in October. Hot but not big enough for a surprise hike. December looks more likely if the next data stays firm.
Bitcoin found buyers under 80k. That doesn’t cancel the inflation numbers. Rates stay higher until the Fed says something clear. The October meeting will show how patient they actually are.
#BTC Price Analysis# #CMC Quest: Earn Rewards#