$BTC breaks under $72,000 — PPI at 13:30 UTC decides if $70,000 is next
Source: Cointelegraph, 12 Nov 15:46 UTC — Nvidia CEO Jensen Huang resigned, stocks sank, BTC fell 3.5% and set new 11-week lows.
I called $70,000 next in my last BTC post — and tonight $71,255, the fresh 30-day low, is still holding, by just $224. That is the whole trade now.
BTC sits at $71,479, -4.3% today, under its 21-week average of $73,078. CoinGlass counted $730M liquidated in 24 hours. PPI lands Friday 13:30 UTC — consensus +0.4%, core +0.3% — after Tuesday's hot CPI already priced in a December hike.
I'm leaning bearish into the print, because every bounce this week has been sold. But a cool PPI flips it fast: $72,427 holds the biggest short-liquidation cluster, $111.7M of shorts waiting to be squeezed.
If $71,255 breaks, $70,979 is the next cluster and $70,000 is the round number everyone watches. If it holds into PPI, $73,078 is the reclaim that kills my lean.
PPI hot or cool — does $BTC hold $71,255 or print $70,000 first? Drop your number.
Not financial advice. DYOR.
#Bitcoin #CryptoNews #PPI
Source: Cointelegraph, 12 Nov 15:46 UTC — Nvidia CEO Jensen Huang resigned, stocks sank, BTC fell 3.5% and set new 11-week lows.
I called $70,000 next in my last BTC post — and tonight $71,255, the fresh 30-day low, is still holding, by just $224. That is the whole trade now.
BTC sits at $71,479, -4.3% today, under its 21-week average of $73,078. CoinGlass counted $730M liquidated in 24 hours. PPI lands Friday 13:30 UTC — consensus +0.4%, core +0.3% — after Tuesday's hot CPI already priced in a December hike.
I'm leaning bearish into the print, because every bounce this week has been sold. But a cool PPI flips it fast: $72,427 holds the biggest short-liquidation cluster, $111.7M of shorts waiting to be squeezed.
If $71,255 breaks, $70,979 is the next cluster and $70,000 is the round number everyone watches. If it holds into PPI, $73,078 is the reclaim that kills my lean.
PPI hot or cool — does $BTC hold $71,255 or print $70,000 first? Drop your number.
Not financial advice. DYOR.
#Bitcoin #CryptoNews #PPI
