Yesterday, BTC briefly dropped to $72,677, its lowest level since August. Nearly three months of gains were erased within weeks 👀 The trigger was the U.S. October CPI inflation data: · Up 0.4% month-over-month, versus market expectations of 0.3% · Core CPI (excluding food and energy) rose 0.3%, above the 0.2% forecast · The 10-year U.S. Treasury yield briefly breached 5% Impact on crypto within 24 hours (CoinGlass via FXStreet): · Approximately $716 million in liquidations · $589 million of that was long positions · ETH briefly touched $2,029; SOL and XRP also declined From its peak of $87,374 on September 21, BTC has now fallen nearly 16%. Key levels being monitored: · Wintermute: $73,000 is roughly the 200-day moving average. If BTC closes daily below this level, they see potential downside to $68,000 · CryptoQuant: BTC is now below its 365-day average ($76,400); next support at $73,200 · Wintermute remains more optimistic if BTC closes daily above $80,000 and spot ETFs return to inflows. Last week, spot ETFs saw $1.28 billion in outflows Today’s Fear & Greed Index is 29—still in “fear” territory. The market is now awaiting the Fed meeting on December 9, as the probability of a rate hike is increasingly priced in. Are you holding at $73K, or are you prepared for BTC to drop to $68K?