This move in crypto isn’t a pullback—it’s the start of a weakening trend.

U.S. October CPI rose 0.4% month over month, above expectations, while core CPI came in above expectations for the third consecutive month. The 10-year Treasury yield broke above 5% intraday, and the Dollar Index climbed above 102—the pricing anchor for risk assets is being pushed higher. Spot BTC and ETH ETFs saw net outflows for three consecutive days, with outflows of $201 million and $185 million, respectively, on November 9. Institutions are pulling back. The Fear and Greed Index fell to 29, with sentiment shifting from neutral to fear.
Technically, BTC has repeatedly tested the 72,700–73,000 support zone. If it closes below that level on the daily chart, the next vacuum zone points straight to 67,500. ETH is weaker, down nearly 10% in 7 days and more than 19% in 30 days. The ETH/BTC ratio has fallen to 0.0278. After losing 2005, 1630 isn’t an extreme level—it’s in line with the trend.
My view: BTC is headed for 67,500, and ETH for 1630. The most likely path is BTC breaking down first, followed by an accelerated catch-up drop in ETH. If a rebound fails to clear 74,500–75,000, the market is still in a bearish rhythm.

I’m not being bearish for its own sake—I’m following the money. Manage your position size, and don’t try to catch a falling knife halfway down. $ETH

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