🔻 $BTC hits a 3-month low near $72.7K after hot CPI. Here's the breakdown:
What happened:
📊 October CPI came in hotter than expected, and traders now price in a Fed rate hike (odds ~90%)
📉 BTC dipped to ~$72,700, its lowest since Aug 20, then bounced to ~$74K
🏦 Spot ETFs: 4 straight days of outflows. BlackRock's IBIT has seen $1.66B in redemptions over 7 trading days
😨 Fear & Greed: 29 (Fear)
🏢 BTC is now below Strategy's $75.4K average cost basis
Not all bad news:
🏛️ Deutsche Bank launched institutional crypto custody
💥 $200M+ in shorts got squeezed on the bounce
Levels I'm watching:
🛡️ Support: $72,700 to $73,000 (also the 200-day average)
🧱 Resistance: $74,500 to $76,000
Below support, $70K comes into focus. For a real recovery I want ETF inflows back and a calmer Fed outlook.
Where do you see BTC by the end of November? 👇
🔴 Below $70K 🟡 $70K to $80K 🟢 Above $80K
#bitcoin #BTC #HotCPIDecemberHikePriced #AnthropicRejectsIPODelayValuationinQuestion
Not financial advice.
What happened:
📊 October CPI came in hotter than expected, and traders now price in a Fed rate hike (odds ~90%)
📉 BTC dipped to ~$72,700, its lowest since Aug 20, then bounced to ~$74K
🏦 Spot ETFs: 4 straight days of outflows. BlackRock's IBIT has seen $1.66B in redemptions over 7 trading days
😨 Fear & Greed: 29 (Fear)
🏢 BTC is now below Strategy's $75.4K average cost basis
Not all bad news:
🏛️ Deutsche Bank launched institutional crypto custody
💥 $200M+ in shorts got squeezed on the bounce
Levels I'm watching:
🛡️ Support: $72,700 to $73,000 (also the 200-day average)
🧱 Resistance: $74,500 to $76,000
Below support, $70K comes into focus. For a real recovery I want ETF inflows back and a calmer Fed outlook.
Where do you see BTC by the end of November? 👇
🔴 Below $70K 🟡 $70K to $80K 🟢 Above $80K
#bitcoin #BTC #HotCPIDecemberHikePriced #AnthropicRejectsIPODelayValuationinQuestion
Not financial advice.
