Bitcoin recorded an intraday low of $81,514.28 on Oct. 14 after the release of a hotter-than-expected U.S. CPI, with headline inflation at 3.7% versus 3.6% expected and core at 2.6% versus 2.5% expected. Traders raised the probability of an October Fed rate hike from 20% to 41%. According to Glassnode, a major long liquidation cluster sits just below the $80,000 level, where a large buy wall is also concentrated. If this support breaks, the price could drop toward $78,000, a decline of approximately 4.3%, and altcoins could lose around 8% based on the 1.9x ratio observed during the latest pullback.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
