$BTC #BTCFallsBelow$83000
Bitcoin is starting the week a bit soft. It's sitting around $83,000, down from last week's peak of $87,315. What makes it interesting is that US spot Bitcoin ETFs just had a record week with $2.39 billion in inflows. So big money kept buying and the price still slipped. Looks like higher Treasury yields, pricey oil, and the US-Iran situation are weighing on risk assets more than the ETF demand can offset right now.
On the chart, the $82,000 to $83,000 zone is what matters today. A close below it points toward $81,000 next. If buyers step in, getting back above $84,000 would be the first sign of strength.
Here's the Monday thought: a pullback isn't the end of the story. BTC went from $80,000 to $87,000 in September and it's just catching its breath. The ones who stay patient are usually the ones still standing.
Have a good week.
$BTC #Bitcoin #HappyMonday
Bitcoin is starting the week a bit soft. It's sitting around $83,000, down from last week's peak of $87,315. What makes it interesting is that US spot Bitcoin ETFs just had a record week with $2.39 billion in inflows. So big money kept buying and the price still slipped. Looks like higher Treasury yields, pricey oil, and the US-Iran situation are weighing on risk assets more than the ETF demand can offset right now.
On the chart, the $82,000 to $83,000 zone is what matters today. A close below it points toward $81,000 next. If buyers step in, getting back above $84,000 would be the first sign of strength.
Here's the Monday thought: a pullback isn't the end of the story. BTC went from $80,000 to $87,000 in September and it's just catching its breath. The ones who stay patient are usually the ones still standing.
Have a good week.
$BTC #Bitcoin #HappyMonday
