973M WIPED OUT AND THE BULLS SAY EVERYTHING IS FINE

A top analyst said yesterday that everything is fine for $BTC above 81K

Another one looked at the tape and said there is no real bid at all

Spot has been a net seller every hour since yesterday evening and the bounce from 80K to 82K came mostly from shorts getting squeezed

So which one is right

Here is what the tape actually shows

Producer prices came in hot at 6% against 5% expected and December rate hike odds jumped from 62% to 67% in a single day

973M in liquidations in 24 hours with 92% of them longs getting wrecked

Spot ETFs bled 261M in one day and October redemptions are now over 530M

Fear and greed sits at 53 which is neutral not panic

$ETH was the hardest hit yesterday then bounced 3% this morning which tells you how violent the rotation under the surface really is

One number genuinely gives me pause though

Wallets holding between 10 and 10000 $BTC just hit an all time high over 20K wallets

That is the strongest stakeholder signal on the board and you cannot fake accumulation

My read is the bounce is relief not recovery

I weight the cautious side into the Oct 27 FOMC

A daily close above 83700 with real spot buying would prove me wrong and I would flip my read on the spot

Until then 80K is the line and the bias leans toward a retest

So here is the question for you

Which comes first before the FOMC

84K or 78K

Drop your number below

#BinanceSquare #WriteToEarn #Crypto #Bitcoin #FOMC