$BTC just crashed from $81K to $73K, and the culprit isn't crypto it's macro fear and a massive long squeeze.
The trigger was October US CPI coming in hotter than expected (0.4% vs 0.3% forecast), which killed any hope of Fed rate cuts and sent Treasury yields above 5% . That instantly made non-yielding assets like BTC less attractive.
But the real pain came from $716 million in liquidations with longs taking $589M of the hit . Add in $2B+ in ETF outflows over recent weeks, and you have a perfect storm .
The level that matters now: $73,000** is the 200-day moving average . If BTC closes below this on the daily, Wintermute warns the next stop is $68,000 . Hold it, and a relief bounce toward $78K is possible but the trend is still fragile .
$BTC
The trigger was October US CPI coming in hotter than expected (0.4% vs 0.3% forecast), which killed any hope of Fed rate cuts and sent Treasury yields above 5% . That instantly made non-yielding assets like BTC less attractive.
But the real pain came from $716 million in liquidations with longs taking $589M of the hit . Add in $2B+ in ETF outflows over recent weeks, and you have a perfect storm .
The level that matters now: $73,000** is the 200-day moving average . If BTC closes below this on the daily, Wintermute warns the next stop is $68,000 . Hold it, and a relief bounce toward $78K is possible but the trend is still fragile .
$BTC
