BTC price settles at $69K after dip wipes $1.3B Bitcoin open interest

BTC/USD 1-hour chart. Source: TradingViewResponding to the past 24 hours’ events, trading firm QCP Capital called the U.S. session “doubly strange.”

QCP referenced next week’s macro data prints, which include the Consumer Price Index, or CPI, along with the Federal Reserve meeting to determine interest rate policy. “It was probably not a coincidence that Alts and Memecoins started collapsing as well with over $40 billion wiped in market cap.”

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