Bitcoin Is Stuck at $82K, But Institutions Just Made a $1 Billion Statement
Bitcoin tested $84,800 on Wednesday, then slipped back to around $82,800. It looks like a stalemate, but the ETF data tells a different story.
US spot Bitcoin ETFs pulled in over $1 billion in just three days. October 21 alone brought in $528 million, the biggest daily inflow in a month, after a rough stretch of outflows earlier in October.
What changed? The Fed outlook. A month ago, traders priced a 57.6% chance of a hike on October 28. Today, CME data shows an 84.5% chance of a hold.
It's not a clear runway yet. Inflation is at 3.7%, the 10-year Treasury yield is above 5%, and a hike in December is still on the table.
Levels to watch:
Support: $82,500, then the 50-day average near $81,700
Resistance: $84,800. A daily close above $85,000 would be a strong signal.
Wild card: Reported Tesla-SpaceX merger talks would put about 30,000 BTC (roughly $2.5 billion) on a single balance sheet.
Are institutions front-running a Fed pause, or getting ahead of themselves?
Educational content, not financial advice. Do your own research.
#BitcoinETFs #Fed #ETF #Crypto