Bitcoin has closed lower for five straight weeks, a trend reinforced by more than 1B dollars in liquidations over a 24 hour period. While $BTC fell 5.3 percent last week, the latest US CPI data shows a 0.4 percent monthly increase, which is higher than many expected. This macro pressure is showing up in the IBIT ETF, which has now seen five consecutive sessions of outflows.
My read: The correlation between AI stock selloffs and crypto liquidations shows that institutional desks are still treating these as the same risk bucket. What I would watch is whether the 80 percent probability of a December rate hike priced into futures starts to shift if inflation stays sticky.
Did you buy this latest dip or are you waiting for the CPI data to settle?
#BitcoinFiveWeeklyLosses
My read: The correlation between AI stock selloffs and crypto liquidations shows that institutional desks are still treating these as the same risk bucket. What I would watch is whether the 80 percent probability of a December rate hike priced into futures starts to shift if inflation stays sticky.
Did you buy this latest dip or are you waiting for the CPI data to settle?
#BitcoinFiveWeeklyLosses