US CPI and PPI again came in higher than expected, market concerns about interest rate hikes intensified, putting pressure on Bitcoin and risk assets alike.
Coupled with net outflows from both Fidelity and BlackRock's IBIT spot Bitcoin ETFs on 10/14, Bitcoin once fell to around $80,000. In this episode, Crypto Mama takes you through Bitcoin's potential next moves from three perspectives: candlestick charts, moving averages, and on-chain data:
✅ Primary cause of inflation: Crude oil prices and the Strait of Hormuz situation
✅ Spot Bitcoin ETFs shift from net inflows to net outflows
✅ Key price level of the box pattern at 81,500: What does a break below signify?
✅ Warning sign of divergence between price and momentum
✅ Support around 78,000 on the 365-day moving average
✅ On-chain accumulation: Continued buying support around $80,000
✅ Common year-end pullback in midterm election years; could this be a golden opportunity?
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