It briefly broke above $83,000 in the evening, then fell back below; $BTC remains pinned beneath the shelf.
Current market data shows BTC at $82,959, nearly unchanged over 24 hours, with a high-low range of $83,077-$82,277.
The 15-minute candle at 10:30 p.m. closed at $83,029. The daily high reached $83,077, but several candles afterward closed back below $83,000.
Compared with the Asian open at $82,871, price action for the day looked more like grinding along the lower edge of the shelf than a clean breakout.
U.S. spot Bitcoin ETFs saw combined net inflows of about $21.1 million on October 9. IBIT led with about $22.38 million in inflows, while FBTC saw outflows of about $3.58 million.
Compared with combined redemptions of about $729 million on October 7-8, flows have merely shifted from large outflows to modest inflows.
Net outflows over the past five trading days still total about $679 million, and Fridayโs inflow is not enough to turn the weekly tally positive.
Futures open interest is about $2.50 billion, and the funding rate is around +0.0018%, nearly flat. Leverage showed no clear rush to build positions during the spike.
As for the path ahead, first watch whether BTC can hold consecutive closes above $83,000 before talking about testing higher resistance.
If it loses $82,277, the next area to watch is around $81,600.
Current market data shows BTC at $82,959, nearly unchanged over 24 hours, with a high-low range of $83,077-$82,277.
The 15-minute candle at 10:30 p.m. closed at $83,029. The daily high reached $83,077, but several candles afterward closed back below $83,000.
Compared with the Asian open at $82,871, price action for the day looked more like grinding along the lower edge of the shelf than a clean breakout.
U.S. spot Bitcoin ETFs saw combined net inflows of about $21.1 million on October 9. IBIT led with about $22.38 million in inflows, while FBTC saw outflows of about $3.58 million.
Compared with combined redemptions of about $729 million on October 7-8, flows have merely shifted from large outflows to modest inflows.
Net outflows over the past five trading days still total about $679 million, and Fridayโs inflow is not enough to turn the weekly tally positive.
Futures open interest is about $2.50 billion, and the funding rate is around +0.0018%, nearly flat. Leverage showed no clear rush to build positions during the spike.
As for the path ahead, first watch whether BTC can hold consecutive closes above $83,000 before talking about testing higher resistance.
If it loses $82,277, the next area to watch is around $81,600.