Битцоин (BTC) delivered classic volatility on Oct. 13 as United States economic data shook markets.
Trader sticks by $21,000 target
Подаци из Цоинтелеграпх Маркетс Про ТрадингВиев followed BTC/USD as it presented some textbook moves to accompany the U.S. Индекс потрошачких цена (ЦПИ) штампа за септембар.
Coming in at 0.1% above expectations year-on-year, the September figures immediately made themselves felt, with risk assets selling off and the dollar advancing in the face of ongoing inflation pressures.
In line with previous CPI events, Bitcoin saw a fakeout to the upside, which vanished in minutes, leading to protracted downside, which only bottomed at $18,183 on Bitstamp.
A rebound took the largest cryptocurrency to $18,800, having seen its lowest since Sept. 22.
Traders both long and short felt the burn, with combined 24-hour liquidations totaling $57 million, према према подацима из Цоингласс-а.
“THE BOTTOM isn’t in,” analytics resource Material Indicators сажети alongside order book data from Binance.
The accompanying chart showed support at $18,000 massing on BTC/USD, providing at least a temporary support level.
Упркос томе што down 4% on the day, Bitcoin was nonetheless in line for a bear market bounce, popular trader Il Capo of Crypto insisted.
Continuing an existing theory, a Twitter post on the day called for a rally to $21,000 before the real macro bottom emerged, tipped to be between $14,000 and $16,000.
“I didn’t expect this move to go this low. In fact I expected the bounce to come earlier,” Il Capo of Crypto wrote (написано) about the post-CPI dip.
“With this being said, SPX is pumping and DXY dumping. $BTC still at support. This could be a massive bear trap. Bounce to 21k is still in play.”
Dollar dives after initial gains
The CPI event did not appear to dent stock market confidence, meanwhile, with U.S. indexes rising on the Wall Street open.
Релатед: Bitcoin eyes ‘textbook’ bottom as $16K whale cost basis comes into play
At the time of writing, the S&P 500 and Nasdaq Composite Index were up 0.3% and 0.6%, respectively.
The U.S. dollar index (DXY), having gained earlier on the day, saw a dramatic retracement to target 112.5 points, helping alleviate pressure on highly-correlated crypto markets.
Овдје приказана стајалишта и мишљења су искључиво становишта аутора и не одражавају нужно ставове Цоинтелеграпх.цом. Сваки потез улагања и трговања укључује ризик, приликом доношења одлуке требало би да спроведете сопствено истраживање.
Source: https://cointelegraph.com/news/btc-price-hits-3-week-lows-on-us-cpi-as-bitcoin-liquidates-57m