$BTC trades at 81,632, down 1.9 percent over twenty four hours, and the whole move came in the two hours that contained the September CPI release.
Hourly volume on the main pair was 23.7 million at 11:00 UTC. The next two hours printed 179.8 and 179.7 million, more than five times that, and price went from 83,466 to 82,324. By 15:00 UTC it had reached 81,641. The eight hourly closes since then sit between 81,587 and 82,013, a 426 dollar band.
The positioning side never moved. Open interest on the perpetual was 93,428 coins a day ago and reads 93,179 now, down 0.3 percent. A 1.9 percent decline with open interest flat is spot selling, with leverage neither forced out nor added.
Accounts went the other way. The long short ratio read 1.29, 1.29, 1.30, 1.33, 1.62 and 1.74 across the last twenty four hours, so retail kept adding length into the drop. Taker flow disagreed: six of the last eight hours came in under 1.00, the last at 0.79. Funding is -0.0042 percent, close to nothing.
Volume for the full day is 1,505 million against a 1,314 million thirty day average, 1.15 times normal, across 3,543,430 trades.
On chain the network is idle. The mempool holds 83,207 transactions for 40 virtual megabytes, the recommended fee is 1 sat per vbyte on every tier but the fastest, and the pending fee pool is 0.078 coins. Hashrate is 1,013 exahash per second.
Dominance is 59.79 percent. Price sits 6.6 percent under the 30 day high of 87,396 and 8.8 percent above the 30 day low of 74,968, which was printed on 15 September.
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Hourly volume on the main pair was 23.7 million at 11:00 UTC. The next two hours printed 179.8 and 179.7 million, more than five times that, and price went from 83,466 to 82,324. By 15:00 UTC it had reached 81,641. The eight hourly closes since then sit between 81,587 and 82,013, a 426 dollar band.
The positioning side never moved. Open interest on the perpetual was 93,428 coins a day ago and reads 93,179 now, down 0.3 percent. A 1.9 percent decline with open interest flat is spot selling, with leverage neither forced out nor added.
Accounts went the other way. The long short ratio read 1.29, 1.29, 1.30, 1.33, 1.62 and 1.74 across the last twenty four hours, so retail kept adding length into the drop. Taker flow disagreed: six of the last eight hours came in under 1.00, the last at 0.79. Funding is -0.0042 percent, close to nothing.
Volume for the full day is 1,505 million against a 1,314 million thirty day average, 1.15 times normal, across 3,543,430 trades.
On chain the network is idle. The mempool holds 83,207 transactions for 40 virtual megabytes, the recommended fee is 1 sat per vbyte on every tier but the fastest, and the pending fee pool is 0.078 coins. Hashrate is 1,013 exahash per second.
Dominance is 59.79 percent. Price sits 6.6 percent under the 30 day high of 87,396 and 8.8 percent above the 30 day low of 74,968, which was printed on 15 September.
Follow me for daily positioning and on-chain breakdowns.
#bitcoin #btc #macro #crypto #coinmarketcap