Yesterday, it really did test that 67k level overnight, hitting 67,568 before bouncing back to 69k.

As of now, BTC is around 68,900, down 3.6% in 24 hours; ETH is at 1,951, down 3.2%, and still hasn’t reclaimed 2,000 (TokenPost 05:00, Odaily 01:41). Liquidations totaled $1.47 billion over 24 hours, including $1.3 billion in long positions.

The PPI at 21:30 last night is worth mentioning. Month over month, it came in at 0.3%, below the 0.4% forecast, but year over year it was 6.5%, the highest since November 2022, with commodity prices up 10.2% year over year. Treasuries saw buying after the data came out, and the dollar pulled back from 103.3, but the 25-basis-point hike in December is still on; the meeting will be on the 8th and 9th.

So buyers stepped in at the 67,568 low, but as long as it can’t get above 70k, this is still just a rebound. Better to focus on swings.

Do you think 68k is the bottom, or just a pause? #美国10月PPI即将出炉