Bitcoin just fell below $85,000. ๐
Here's what triggered it:
๐ The US 10-year Treasury yield surged past 5%, its highest level in 19 YEARS
๐ญ September's flash PMI data blew past forecasts, signaling the economy is running hot
๐ฅ $18 BILLION in $BTC C and $ETH options expired at the same time, adding fuel to the drop
โ๏ธ 20,000 BTC flowed to Binance, the biggest miner-selling spike since August
Strong economic data usually sounds bullish, but it cuts both ways. It means inflation pressure is sticking around, and that pushes yields higher, making safer assets more attractive than crypto.
Separately, EU watchdogs warned that quantum computing poses an imminent threat to blockchain encryption, reviving debate over old exposed Bitcoin addresses.
Is this a healthy shakeout, or the start of a deeper correction? ๐
#Bitcoin #BTC #CryptoNewss #binance
Here's what triggered it:
๐ The US 10-year Treasury yield surged past 5%, its highest level in 19 YEARS
๐ญ September's flash PMI data blew past forecasts, signaling the economy is running hot
๐ฅ $18 BILLION in $BTC C and $ETH options expired at the same time, adding fuel to the drop
โ๏ธ 20,000 BTC flowed to Binance, the biggest miner-selling spike since August
Strong economic data usually sounds bullish, but it cuts both ways. It means inflation pressure is sticking around, and that pushes yields higher, making safer assets more attractive than crypto.
Separately, EU watchdogs warned that quantum computing poses an imminent threat to blockchain encryption, reviving debate over old exposed Bitcoin addresses.
Is this a healthy shakeout, or the start of a deeper correction? ๐
#Bitcoin #BTC #CryptoNewss #binance