BTC $65,013.04 +0.98%
ETH $1,818.78 +2.74%
BNB $594.10 +2.81%
XRP $0.9645 +6.42%
SOL $71.93 +3.21%
TRX $0.3051 -0.79%
DOGE $0.0589 +3.87%
ADA $0.1538 +4.45%
BCH $208.88 +3.92%
LINK $9.25 +5.77%
HYPE $67.72 +8.82%
AAVE $109.39 +9.98%
SUI $0.7297 +5.48%
XLM $0.1400 +5.28%
ZEC $903.83 +8.47%
AAPL $357.08 +0.28%
AMZN $264.81 +0.90%
GOOGL $292.77 +1.55%
MSFT $522.29 +0.44%
META $634.76 +0.45%
NVDA $164.72 +3.78%
TSLA $389.61 +1.50%
SNDK $863.32 +2.68%
INTC $58.38 +2.80%
SPCX $139.19 +3.07%
MU $766.84 +2.04%
AMD $527.27 +1.28%
BTC $65,013.04 +0.98%
ETH $1,818.78 +2.74%
BNB $594.10 +2.81%
XRP $0.9645 +6.42%
SOL $71.93 +3.21%
TRX $0.3051 -0.79%
DOGE $0.0589 +3.87%
ADA $0.1538 +4.45%
BCH $208.88 +3.92%
LINK $9.25 +5.77%
HYPE $67.72 +8.82%
AAVE $109.39 +9.98%
SUI $0.7297 +5.48%
XLM $0.1400 +5.28%
ZEC $903.83 +8.47%
AAPL $357.08 +0.28%
AMZN $264.81 +0.90%
GOOGL $292.77 +1.55%
MSFT $522.29 +0.44%
META $634.76 +0.45%
NVDA $164.72 +3.78%
TSLA $389.61 +1.50%
SNDK $863.32 +2.68%
INTC $58.38 +2.80%
SPCX $139.19 +3.07%
MU $766.84 +2.04%
AMD $527.27 +1.28%

mon

All
Article
Flash

Viewpoint: The sharp decline in Bitcoin has not triggered panic selling among short-term holders, with $68,000 becoming the main support level

Crypto analyst Murphy stated that after the significant drop in Bitcoin yesterday, the high-positioned chips of short-term holders only slightly loosened. Data shows that in the range of $73,000 to $86,000, there are approximately 1.48 million Bitcoins, accounting for 68% of the total short-term holders, currently all in a state of unrealized loss. However, the net decrease of chips in this range yesterday was only 34,000 coins, accounting for about 2.3%, indicating that most short-term holders did not panic sell due to the drop.Specifically, the cost ranges of $75,000, $80,000, and $85,000 saw decreases of 7,282 coins, 8,481 coins, and 5,441 coins respectively, with selling pressure relatively dispersed. At the same time, the total number of short-term holders increased by 17,500 coins that day, meaning some long-term holders were also distributing chips during the decline. The chip absorption was mainly concentrated at $68,000, with approximately 42,200 new Bitcoins added in that price range alone.In terms of profitable chips, the range of $62,000 to $64,000 holds about 480,000 Bitcoins, making it the only large-scale profitable chip range among short-term holders currently, with only about 3,100 coins reduced yesterday, less than 1%. Murphy believes this range is the nearest chip support below; if Bitcoin falls into it, the profitable chips of short-term holders will essentially drop to zero, and market sentiment pressure may further increase. Conversely, if the upper trapped positions remain stable, there may still be opportunities for prices to regain support.

In October, the core CPI in the United States exceeded expectations for three consecutive months, with rising costs in energy, services, and AI increasing pressure for interest rate hikes

Inflation data for October in the United States sends multiple warning signals. The data shows that the core CPI rose by 0.3% month-on-month, higher than the market expectation of 0.2%, exceeding expectations for the third consecutive month; the overall CPI rose by 0.4% month-on-month, also above expectations. The impact of rising energy prices is spreading to areas such as food and transportation, and service inflation remains robust, further complicating the Federal Reserve's efforts to control inflation.Specifically, food prices in the U.S. rose by 0.5% month-on-month in October, with grocery prices recording the largest monthly increase since April; urban transportation service prices saw the largest monthly increase since 2020, and prices for airline tickets and delivery services also increased. Additionally, service prices excluding energy and housing rents rose by 0.4% month-on-month, while owners' equivalent rent increased by 0.3%.AI investments are bringing new cost pressures. Over the past three months, the annualized price increase for computers and peripheral devices in the U.S. reached 25%, and electricity prices rose by 0.9% month-on-month in October, marking the largest increase in six months. Morgan Stanley estimates that AI-related factors have contributed about 6 basis points to the core CPI this year, with the current impact still relatively limited, but as data center investments expand, related pressures may rise further.In terms of monetary policy, Chicago Fed President Goolsbee described the latest inflation data as approaching an alarming level. Fed Governor Waller previously stated that if the core CPI month-on-month increase reaches 0.3% or higher, the December meeting should consider raising interest rates by 50 basis points. Goldman Sachs has included a forecast for an additional 25 basis point increase in March 2027, expecting that the target range for the federal funds rate will rise to 4.25% to 4.50%. However, some economists warn that there is a lag in the transmission of energy prices, and over-reliance on current data may lead to excessive tightening of monetary policy.
app_icon
ChainCatcher Building the Web3 world with innovations.