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Hey there, and happy Friday!
This week’s focus turns to Bitcoin’s sharp pullback to its lowest levels since May, a move that has rattled sentiment.
While BTC corrects from October’s highs, macro conditions are shifting as expectations for a December Fed rate cut decline sharply, tightening short-term liquidity. Equities have also pulled back from recent highs, and with global valuations diverging, investors are reassessing risk as we move deeper into Q4.
Here’s what we’ll cover today:
🌍 Market Recap & Macro Overview: Bitcoin drops to its lowest levels since May as broader markets correct. Fed rate-cut expectations fall from nearly 25 bps to just ~10 bps. S&P 500 pulls back under 6,800, while U.S.–international equity valuations diverge sharply. What this means for global risk assets and crypto positioning.
📈 Bitcoin (BTC) Breakdown: BTC breaks below $98,900 and sweeps down to $95,980, fully closing a long-open CME gap. ETF flows show heavy mid-week outflows with $866M exiting on Thursday alone. Key levels, gaps, and actionable setups covered.
📊 Ethereum (ETH) Outlook: ETH approaches its key $3,059 support again after bouncing earlier in the week. ETF flows remain decisively negative. Heatmap positioning shows liquidation clusters building above $3,672, keeping a potential reversal scenario in play.
🚀 Solana (SOL) Analysis: SOL loses both $160 and $143 support and trades near $140. SOL/BTC prints a new technical extreme, confirming continued underperformance. Heatmap shows major liquidation interest above 170.
Let’s dive in 👇
