November 4 commute podcast — Caution on risk assets over possibility of additional rate hike by the Bank of Canada… Bitcoin slightly bullish, $123 million liquidated

The Bank of Canada kept the door open to further rate hikes, with Governor Tiff Macklem citing energy-driven inflation spillover, a signal that lowers liquidity expectations and raises near-term valuation pressure on crypto assets. Bitcoin traded at $77,526.64, up 0.74% over 24 hours, a defensive rather than conviction-driven gain. The session saw $123 million in liquidations as traders managed risk selectively instead of selling off outright. The hawkish-but-unscheduled guidance matters because it keeps macro liquidity tight without triggering an immediate repricing. Watch for follow-through in Bitcoin's hold above the $77,000 level and whether liquidation volumes keep climbing as rate expectations shift.