BTC has fallen below $70,000. Will tonight's 9:30 PM PPI data cause a sharp drop in the weekly chart? Whether a violent rebound can occur over the weekend, tonight's US PPI data could be a key catalyst. BTC has fallen to $69,199, a 6.02% plunge in the last 24 hours, hitting a low of $67,568, approximately 5.4% below the 200-day moving average of $73,137. Let's look at tonight's 9:30 PM US October PPI data, with four key indicators: Strongly Positive: Overall ≤0.2%, Core ≤0.2%. Inflation is significantly lower than expected. If the US dollar and US Treasury yields fall simultaneously, BTC has a chance to quickly recover to $70,500-$71,500, and further challenge $73,100-$75,500. Neutral: Overall 0.3%-0.4%, Core 0.2%-0.3%. Broadly in line with expectations, a short-term rebound is possible, but insufficient to prove the market has bottomed out. Negative Factors: Overall ≥0.5%, Core ≥0.4%. Inflation on the production side remains stubborn, and pressure for Fed rate hikes may further intensify. If BTC falls below $67,500 again, be wary of a test around $65,000. Severe Negative Factors: Overall ≥0.6%, Core ≥0.5%. The market may repric a more aggressive rate hike path, putting greater selling pressure on leveraged funds and altcoins.