$BTC Last night it climbed back above 80,000 again.
It rebounded from the June low by nearly 40%, with a gain of over 20% last week alone. For spot ETFs, net inflows were about $1.9 billion last week—the strongest week since October of last year. Yesterday, there were still a few hundred million dollars more coming in.
The main driver was the Ministry of Finance expanding long-term Treasury repo programs. The market interpreted this as suppressing yields and directing funds toward inflation-hedging assets. Combined with short liquidations, it pushed the move up.
However, the historical trading volume between 80,000 and 90,000 is quite thin. Analysts also warn that the next pullback will be the real test. A healthier scenario might be for it to stabilize first around 75,000.
I’m more interested in whether the inflows can stay consistent, and this week’s PCE data—not in chasing or selling into strength.
For reference only, not investment advice.
#BTC broke above 80,000
It rebounded from the June low by nearly 40%, with a gain of over 20% last week alone. For spot ETFs, net inflows were about $1.9 billion last week—the strongest week since October of last year. Yesterday, there were still a few hundred million dollars more coming in.
The main driver was the Ministry of Finance expanding long-term Treasury repo programs. The market interpreted this as suppressing yields and directing funds toward inflation-hedging assets. Combined with short liquidations, it pushed the move up.
However, the historical trading volume between 80,000 and 90,000 is quite thin. Analysts also warn that the next pullback will be the real test. A healthier scenario might be for it to stabilize first around 75,000.
I’m more interested in whether the inflows can stay consistent, and this week’s PCE data—not in chasing or selling into strength.
For reference only, not investment advice.
#BTC broke above 80,000