$BTC isn't trading crypto news right now. It's trading the Fed.
Why this week hurt: • Oct CPI beat: 0.4% m/m • PPI 6.5% y/y: highest since Nov 2022 • 10Y yield ~5.13%: biggest weekly jump since Apr 2025 • Dollar Index ~103: highest since Apr 2025 • Dec 8–9 Fed: 25bp hike ~90% priced, 50bp ~10%
Higher yields + a stronger dollar = pressure on risk assets. So far BTC is trading like a macro risk asset, not a hedge.
🎯 What changes the picture • Softer data → hike odds fall, relief bounce • Hotter data → 50bp talk, more pressure • DXY and the 10Y rolling over → first real green light
My BTC line stays $68K. But I'm watching the 10Y and the dollar before I watch the candles.
Cheat sheet in the image 👇 What matters more for $BTC right now: the Fed or ETF flows?
$BTC #~$69.2K (-5% in 24h) after a $67.9K low, its weakest since mid-August.
📊 What's driving it# • $1.3B+ liquidated, ~90% longs • 6 straight days of US spot ETF outflows • Hot CPI + DXY above 103 + 10Y yield above 5% • Thin order books (~33% below normal) amplify every move • Fear & Greed: 20 (Extreme Fear)
🎯 Levels I'm watching • $68K: already tested, still the line • Hold it + reclaim $70K → relief bounce • Lose $68K on volume → $65–66K, then the ~$63K August lows
Extreme fear shows mood, not direction. I'm tracking ETF flows, liquidations and volume.
The market doesn't reward confidence. It rewards preparation.