Bitcoin (BTC) fell to 75,702 USD before a decision by the U.S. Federal Reserve, after fluctuating in the 77,100–81,300 USD range for 24 days since 21/8. The closing price on Tuesday dropped 3.2%.

A Bitfinex report said this development triggered an adjustment scenario, in which BTC could test the 73,500 USD level again. To rule out this scenario, the price needs to reclaim 77,100 USD with significant spot trading volume.

U.S.-listed spot Bitcoin ETFs recorded net outflows of 450.4 million USD on Tuesday, equivalent to the 33rd-largest redemption day ever recorded. This is one of the signs reflecting pressure in the spot market.

The amount of BTC held for under 155 days moved to exchanges increased from about 19,400 BTC to 33,100 BTC. Of these, 23,200 BTC were deposited in a losing position, representing the highest level of losing deposits in a month.

Strategy: do not buy BTC for the second consecutive week. The average cost basis of the 845,050 BTC held by the company is 75,412 USD, while the estimated break-even points of the corporate treasury and the spot Bitcoin ETF in the U.S. are approximately 80,500 USD and 86,000 USD, respectively.

Source: https://tintucbitcoin.com/bitcoin-pha-day-bien-do-can-luc-mua-de-tro-lai-77-100-usd/

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