🛡️ $80K holds: Bitcoin survives two hot inflation shocks, and Ether leads the rebound
In two days, markets absorbed hot inflation twice:
📊 CPI: 3.7% y/y (forecast 3.6%)
📊 PPI: +1.3% m/m and 6.3% y/y, the biggest monthly jump since March 2022, with core PPI at +0.7% (forecast +0.3%)
The damage:
🔻 Nearly $1B in liquidations
🔻 South Korea’s KOSPI plunged more than 7%
🔻 Fed hike odds jumped, with estimates ranging from roughly 35% to 55% for October
The response:
$BTC dipped near $80K, then bounced.
$BTC ~$82.2K (+1.3%) | $ETH ~$2,455 (+3.6%)
Ether is outperforming on the bounce, but Bitcoin hasn’t cleared short-term resistance yet.
Levels I’m watching:
🟢 BTC support: $80K-$81K
🔴 BTC resistance: $82.5K-$83K
Also today:
🎤 Fed Chair Warsh speaks
🇹🇭 Thailand’s Bitcoin and Ether ETF rules take effect
My take: a defended $80K is a positive sign, but another hot headline could test it again. I’m keeping leverage low.
Does $80K hold into the Oct 28 Fed meeting? 👇
#Bitcoin #BTC #ETH #CPI #Fed
Not financial advice. DYOR.
$BTC
In two days, markets absorbed hot inflation twice:
📊 CPI: 3.7% y/y (forecast 3.6%)
📊 PPI: +1.3% m/m and 6.3% y/y, the biggest monthly jump since March 2022, with core PPI at +0.7% (forecast +0.3%)
The damage:
🔻 Nearly $1B in liquidations
🔻 South Korea’s KOSPI plunged more than 7%
🔻 Fed hike odds jumped, with estimates ranging from roughly 35% to 55% for October
The response:
$BTC dipped near $80K, then bounced.
$BTC ~$82.2K (+1.3%) | $ETH ~$2,455 (+3.6%)
Ether is outperforming on the bounce, but Bitcoin hasn’t cleared short-term resistance yet.
Levels I’m watching:
🟢 BTC support: $80K-$81K
🔴 BTC resistance: $82.5K-$83K
Also today:
🎤 Fed Chair Warsh speaks
🇹🇭 Thailand’s Bitcoin and Ether ETF rules take effect
My take: a defended $80K is a positive sign, but another hot headline could test it again. I’m keeping leverage low.
Does $80K hold into the Oct 28 Fed meeting? 👇
#Bitcoin #BTC #ETH #CPI #Fed
Not financial advice. DYOR.
$BTC
