Last night, the US CPI was positive, and BTC fell after a spike. There is no interest rate meeting this month, which weakens the impact of CPI. However, there is a major event this week, which is the ETF.

ARK's application for a spot ETF is expected to be announced today, and it is highly likely to be postponed. The final reply date for VanEck and BlackRock's ETFs is also in early next year. Hopefully, the ETFs can be approved as soon as possible.

Although the CPI is lower than expected, it has increased compared to last month, ending the annual decline and raising inflation expectations. Lao Lang estimates that there will be an interest rate hike next month.

For BTC, the CPI this month seems positive, but in reality, it is negative.

Just now, Bittrex announced a $24 million fine settlement with the SEC. Over the past two years, the SEC has been causing trouble for platforms and collecting fines left and right. The next targets are likely to be XRP and BN.

The good news is that once the fines are paid, the negative impact will be resolved, and things can move forward.

Lao Lang remembers that before 2017, BTC often experienced large fluctuations, with market makers taking advantage of high volatility to create large liquidations.

After 2020, this situation has become less common, due to institutional involvement and increased SEC oversight. Anyone who causes trouble risks losing their license and being arrested, such as Bithumb in South Korea and the former derivatives king BM Lao Hei.

It's a good thing that the SEC is taking more action, and the market will become more standardized in the future.

BTC: There have been multiple large BTC transfers to Coinbase, which has a bearish pressure on BTC. BTC spiked along the 5-day moving average, and the hourly chart shows a converging triangle trend. It can only establish a bottom and regain a bullish trend by stabilizing at $30,000. Patience is needed to wait for the bottoming trend.

ETH: Retracing to the 5-day moving average, it is weak and affected by market sentiment. It faces resistance and selling pressure, so it's best to continue observing.

YGG: The small peak points are continuously decreasing, indicating a bottoming trend. Avoid falling into the trap of chasing highs.

There are whale addresses buying PEPE, early addresses selling large amounts of GMX, and 80 million SAND coins being transferred to the platform. Stay informed by following the public account: Cryptowolf King.

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