On October 12, I said $BTC was headed for 75,000, and some people treated it like a joke.
Now it’s at $BTC 81,690 dollars, hovering below 82,000. ETF money is voting with its feet:
On October 16, U.S. spot BTC ETFs saw net outflows of $82.39 million in a single day—with BlackRock alone seeing $71.78 million leave. $ETH was worse, with outflows for a third straight day, totaling $69.68 million that day. In the first half of October, BTC ETFs saw cumulative outflows of about $535 million. In September, they had net inflows of $2.6 billion. That’s a real-money shift in direction.
The technical picture doesn’t look good either: $BTC was rejected at 87,000 twice, and is now sitting right on the 81,000–82,000 level. Below that, 75,000–76,000 is the previous-low support zone. If it breaks, then it really is heading for the 75,000 I mentioned.
Of course, there’s another possibility: buy orders could be stacked around 75,000, and if it gets there, it could bounce. But we’ll cross that bridge when we get there. For now, the bears have more cards in hand.
$SOL 102.9 dollars is slumping too, and $ETH is at 2,392 dollars. They’re tightly correlated—neither can escape the move.
Will we see 75,000, or will 87,000 be reclaimed first?
For informational purposes only; not investment advice.
Now it’s at $BTC 81,690 dollars, hovering below 82,000. ETF money is voting with its feet:
On October 16, U.S. spot BTC ETFs saw net outflows of $82.39 million in a single day—with BlackRock alone seeing $71.78 million leave. $ETH was worse, with outflows for a third straight day, totaling $69.68 million that day. In the first half of October, BTC ETFs saw cumulative outflows of about $535 million. In September, they had net inflows of $2.6 billion. That’s a real-money shift in direction.
The technical picture doesn’t look good either: $BTC was rejected at 87,000 twice, and is now sitting right on the 81,000–82,000 level. Below that, 75,000–76,000 is the previous-low support zone. If it breaks, then it really is heading for the 75,000 I mentioned.
Of course, there’s another possibility: buy orders could be stacked around 75,000, and if it gets there, it could bounce. But we’ll cross that bridge when we get there. For now, the bears have more cards in hand.
$SOL 102.9 dollars is slumping too, and $ETH is at 2,392 dollars. They’re tightly correlated—neither can escape the move.
Will we see 75,000, or will 87,000 be reclaimed first?
For informational purposes only; not investment advice.