$BTC Today, BTC has once again risen above $86,000.
In recent days, it has been trading in a tight range of $82,000–$84,000, but more importantly, the macro environment has started to ease a bit.
After the latest PCE came in below expectations, concerns in the market about further rate hikes in October clearly cooled; yesterday, Citibank also raised its 12-month BTC target price from $82,000 directly to $113,000.
Although the previous trading day saw the BTC ETF end a streak of 9 consecutive days of net inflows, with $149 million in outflows, the net inflow over the prior 9 days had already totaled $3.1 billion.
So after BTC reclaims $86,000, the next resistance is still the previous high at $87,000.
Once $87,000 breaks, the $89,200 level that people have been watching is pretty close.
In recent days, it has been trading in a tight range of $82,000–$84,000, but more importantly, the macro environment has started to ease a bit.
After the latest PCE came in below expectations, concerns in the market about further rate hikes in October clearly cooled; yesterday, Citibank also raised its 12-month BTC target price from $82,000 directly to $113,000.
Although the previous trading day saw the BTC ETF end a streak of 9 consecutive days of net inflows, with $149 million in outflows, the net inflow over the prior 9 days had already totaled $3.1 billion.
So after BTC reclaims $86,000, the next resistance is still the previous high at $87,000.
Once $87,000 breaks, the $89,200 level that people have been watching is pretty close.