📉 Tough stretch. Square's trending topic says Bitcoin has now posted five weekly losses, and Bitcoin.com reports the market erased its $100B rally last week. $BTC is $74,403 (-1.9%), 8.5% below its recent daily-close peak of $81,309, and printed $73,333 today. $ETH is $2,130 (-4.8%).
What I see: BTC funding is 0.010%, basically neutral, so this is not a leverage flush. It looks like spot and ETF selling with rate-hike worries on top. CPI is the next test for the December rate outlook, per Square's trending topic.
Where does Bitcoin find a floor?
1️⃣ Right here near $73K
2️⃣ $70,000
3️⃣ Lower than $70,000
I'm taking 2️⃣. Round numbers attract the final flush, and $70K is the next big one. Reply 1, 2 or 3 👇
$BTC $ETH #BinanceSquare #WriteToEarn
What I see: BTC funding is 0.010%, basically neutral, so this is not a leverage flush. It looks like spot and ETF selling with rate-hike worries on top. CPI is the next test for the December rate outlook, per Square's trending topic.
Where does Bitcoin find a floor?
1️⃣ Right here near $73K
2️⃣ $70,000
3️⃣ Lower than $70,000
I'm taking 2️⃣. Round numbers attract the final flush, and $70K is the next big one. Reply 1, 2 or 3 👇
$BTC $ETH #BinanceSquare #WriteToEarn
