Looks like you're in the United States. Switch to the United States site for products available in your region.
Post
Olivia Rose
Show original
Today's chain of negative news in one thread: non-farm payrolls and CPI both beat expectations, and CPI rose 0.4% month over month. $BTC still held $72,727. Support $72,727, resistance $75,000. Does the bad-news chain end here, or is there more to come? #BTC #Bitcoin #Crypto
招财小猫mi
Family, last night BTC took another hit. Let's briefly review today's chain of negative news:
First, last night's non-farm payroll and CPI data both exceeded expectations. The CPI rose 0.4% month-over-month, fully ramping up expectations for a rate hike in December. Now it's just a question of whether the hike will be 25 or 50 basis points. As liquidity tightens, BTC and ETH are directly under pressure.
Second, looking at the market. Bitcoin broke below 73,000, hitting a low of 72,688, and the $52 million buy wall was completely wiped out. Ethereum is also stumbling, with the 2,000 level on the verge of breaking. The fear index has dropped to 30, and the market is in a state of panic.
Finally, MicroStrategy is set to be removed from the MSCI index today. Although this brings about roughly $2.8 billion of passive selling pressure on the US stock side and does not force selling of BTC, the sentiment contagion is deadly.
The liquidation map shows continuous negative news recently. Yesterday, the long positions at 74,100 were just liquidated, and today's intraday long liquidation pain point is between 72,300-72,700. The short pain point above is at 75,000, but with this slow downward trend, longs should keep more margin to avoid being taken out by the chain of hits.
Disclaimer: OKX Orbit content is provided for informational purposes only. Learn more
