CPI Came In Hot! Crypto Drops More
Sep CPI came in higher than expected. The market is selling.
$BTC: 82,826 (-0.58%)
$ETH: 2,486 (-0.69%)
$SOL: 106.07 (-0.46%)
Why it matters:
Inflation is still high, so the Fed may not cut rates soon. That is bad news for crypto.
Bear case:
• Fewer rate cuts
• BTC breaks 80K and longs get liquidated
• Alts drop more than BTC
Bull case:
• The drop is still small, so the market may have expected this
• Buyers could step in on the dip
Levels I'm watching:
• BTC: 80K support, 85K resistance
• ETH: 2,400 support, 2,600 resistance
• SOL: 100 support, 112 resistance
Buy the dip or wait for lower?
NFA · DYOR
Sep CPI came in higher than expected. The market is selling.
$BTC: 82,826 (-0.58%)
$ETH: 2,486 (-0.69%)
$SOL: 106.07 (-0.46%)
Why it matters:
Inflation is still high, so the Fed may not cut rates soon. That is bad news for crypto.
Bear case:
• Fewer rate cuts
• BTC breaks 80K and longs get liquidated
• Alts drop more than BTC
Bull case:
• The drop is still small, so the market may have expected this
• Buyers could step in on the dip
Levels I'm watching:
• BTC: 80K support, 85K resistance
• ETH: 2,400 support, 2,600 resistance
• SOL: 100 support, 112 resistance
Buy the dip or wait for lower?
NFA · DYOR