Something doesn’t quite add up with $BTC right now. Just a few days ago, the market was dealing with a Fed rate hike, the CLARITY Act failing in the Senate and heavy ETF outflows,
Yet $BTC has now pushed back above $85K and reached its highest level since January. What makes this move more interesting is that Bitcoin didn’t need a perfect macro environment to recover. U.S. spot Bitcoin ETFs had a very volatile week, with heavy outflows on September 15 and 16 followed by strong inflows on September 17 and 18, including about $433 million on Friday. That tells me the demand picture is changing quickly rather than moving in one direction. I’m not taking the recent rally as proof that the market is back in a straight-line uptrend, because one strong move can still reverse. What I’m watching now is whether $BTC can hold the higher levels while ETF demand remains positive. If that happens, the recovery becomes much more interesting to me. Do you think Bitcoin has genuinely turned the corner, or is this still just a strong rebound? #NEARRisesNearly80%InAWeek #CanaryFilesSecondAmendmentForStakedSEIETF #Bitcoin #BTC #BinanceSquare #Crypto #BTCUSDT #CryptoMarket #DYOR
Yet $BTC has now pushed back above $85K and reached its highest level since January. What makes this move more interesting is that Bitcoin didn’t need a perfect macro environment to recover. U.S. spot Bitcoin ETFs had a very volatile week, with heavy outflows on September 15 and 16 followed by strong inflows on September 17 and 18, including about $433 million on Friday. That tells me the demand picture is changing quickly rather than moving in one direction. I’m not taking the recent rally as proof that the market is back in a straight-line uptrend, because one strong move can still reverse. What I’m watching now is whether $BTC can hold the higher levels while ETF demand remains positive. If that happens, the recovery becomes much more interesting to me. Do you think Bitcoin has genuinely turned the corner, or is this still just a strong rebound? #NEARRisesNearly80%InAWeek #CanaryFilesSecondAmendmentForStakedSEIETF #Bitcoin #BTC #BinanceSquare #Crypto #BTCUSDT #CryptoMarket #DYOR
