Hot CPI Sends Bitcoin Under $73,000 and Wipes Out Leveraged Bulls

Inflation surprised to the upside on Tuesday. Headline prices rose 0.4% against a 0.3% forecast, and core rose 0.3% against 0.2%. Bitcoin slipped below $73,000 as traders, who already saw a 99% chance of a December hike, started weighing a 50 basis point move that Fed Governor Waller had said a firm core reading would allow.

About $281 million in long bets were liquidated within an hour, and roughly $350 million over four hours. US stock futures fell, and about $600 billion left American equities in the first three minutes of trading.

Altcoins Fall Harder Than Bitcoin

Ethereum dropped 6.01% to $2,017, XRP lost 6.81% to $1.04 and Solana slid 6.68% to $81.93. BNB fell only 1.95% to $676.84. HYPE lost 6.00%, Chainlink 5.81% and Dogecoin 4.88%. Zcash sank 11.23% and Monero 9.46%, while TRON and LEO edged higher.

Key Levels and Selling Pressure

Bitcoin has now logged five red weekly candles and lost both its 50 week average and the 200 day average near $73,100. MARA has sold 13,597 BTC since Oct. 1 at about $81,039, and BlackRock’s fund shed around $213 million. Traders now watch $70,000, with Ethereum’s $2,000 zone next and Friday’s PPI report ahead.