Seven-day spot ETF has added roughly $2.45B again, but overnight the price dropped from nearly 85,000 to 82,563—at the moment I’m a bit bullish, but I’m not chasing.
Current price is around 83,500; during the Asian session it briefly dipped to about 83,100. I’m looking to enter lightly around 82,800–83,200. First target: 84,200, then reassess at 85,000; if it breaks below 82,350, I won’t count this move.
Two things stacked together: Lookonchain updated on 9/28—US Bitcoin spot ETFs saw a one-day net inflow of about 1,740 BTC (about $146M), and over seven days totaled about 29,300 BTC (about $2.45B). On the same day, the on-chain data also shows about 799 BTC (about $66.4M) being sent into institutional custody channels. Money is flowing in and packaging up; the spot market gets hit first. Don’t catch the knife halfway through a bounce.
My personal view: you control your own position.
$BTC
Current price is around 83,500; during the Asian session it briefly dipped to about 83,100. I’m looking to enter lightly around 82,800–83,200. First target: 84,200, then reassess at 85,000; if it breaks below 82,350, I won’t count this move.
Two things stacked together: Lookonchain updated on 9/28—US Bitcoin spot ETFs saw a one-day net inflow of about 1,740 BTC (about $146M), and over seven days totaled about 29,300 BTC (about $2.45B). On the same day, the on-chain data also shows about 799 BTC (about $66.4M) being sent into institutional custody channels. Money is flowing in and packaging up; the spot market gets hit first. Don’t catch the knife halfway through a bounce.
My personal view: you control your own position.
$BTC