Bitcoin, Ethereum, XRP, Dogecoin Slide Even as CPI Figures Ease Rate Hike Odds: Analyst Says BTC 'Display
Bitcoin, Ethereum, XRP and Dogecoin fell after July CPI matched expectations, easing rate-hike odds for September to 40% from 48% (CME Fedwatch). Coinglass data showed $175M+ in crypto liquidations in 24 hours, with shorts $93M. Analyst Michaël van de Poppe warned BTC could drop to $60,000 if support near $63,500 fails.
How this was made
The 30-second read
Why it matters
Despite stocks rallying, crypto experienced broad liquidation and fear sentiment. For BTC, a named analyst highlights a key support zone near $63,500 and a potential breakdown toward $60,000 if it fails. On-chain commentary suggests the drawdown is reaching long-term holders, which can prolong bottoms.
Market read
Traders get a near-term risk map for BTC tied to CPI-driven macro repricing plus leverage liquidation signals, with broader downside pressure implied for major alts.
What to watch
The article cites long-term holder losses spreading (CryptoQuant), which can extend drawdowns beyond short-term technical levels, but it does not quantify whether selling is accelerating or stabilizing.
Background
The article links a CPI print that matched expectations to a repricing of September rate-hike odds, while crypto still sold off sharply.
Ticker impact
Bitcoin sold off after CPI matched expectations, with analyst support near $63,500 and downside risk to $60,000 if it breaks.
Bearish bias toward a test of $60,000 if support breaks; otherwise potential stabilization.
The article cites CPI easing rate-hike odds but still reports BTC price weakness, rising open interest alongside falling price, and a specific technical breakdown level from a named analyst.
Ethereum recorded sharp selling pressure alongside Bitcoin after CPI came in line, with broader crypto liquidations exceeding $175 million.
Further downside likely in line with the broader crypto deleveraging unless macro expectations reprice.
The text provides no ETH-specific technical levels, only that ETH fell and liquidation/open-interest dynamics were worsening for the complex.
XRP traded in the red during the same CPI-driven crypto retreat, amid $175 million in liquidations and fear sentiment.
Near-term pressure likely to persist while fear/liquidations continue.
No XRP-specific catalyst is provided beyond participation in the broad selloff.
Dogecoin also fell during the CPI-eased rate-hike odds backdrop, with short sellers responsible for $93 million of liquidation losses.
Choppy-to-lower price action likely while liquidation flows remain elevated.
The article lacks DOGE-specific levels or catalysts, tying the move to market-wide liquidation and sentiment.
Market effects
Crypto risk appetite is being driven by CPI-in-line expectations plus leverage liquidation, with fear sentiment and open-interest dynamics signaling short buildup.
US CPI release is the macro trigger, but the article frames the impact as global crypto positioning.
Rate-hike odds repricing affects USD liquidity expectations, feeding into cross-crypto deleveraging.
Counterpoint
If CPI easing truly reduces the probability of a September hike, the selloff could be an overreaction that reverses once liquidation pressure clears.
Key entities
- cryptoBitcoin
Price weakness with a cited support level near $63,500 and breakdown risk to $60,000 if support fails.
- cryptoEthereum
Sharp selling pressure during the same CPI-driven crypto retreat.
- cryptoXRP
Traded in the red alongside broader crypto liquidations.
- cryptoDogecoin
Also traded in the red during the liquidation-driven selloff.
- data_providerCoinglass
Cited for $175 million in crypto liquidations and $93 million attributed to short sellers.
