After Bitcoin fell below $84,000, short-term momentum began to weaken again.
Early this morning, Binance BTC briefly traded around $83,577, continuing to fall from the previous day.
This decline was not entirely unexpected. BTC failed to hold above around $87,000 after testing that level three times in recent days, as selling pressure remained overhead.
Meanwhile, the US high-interest-rate environment has yet to ease meaningfully, and markets are awaiting the Federal Reserve meeting minutes, making investors noticeably more cautious.
US spot Bitcoin ETF data has also started to cool.
On October 5, US spot Bitcoin ETFs saw net outflows of about $89.9 million, so institutional buying—which had been supporting the market—has weakened somewhat for now.
The $84,000 level has now shifted from support to a battleground. If Bitcoin also fails to hold its recent low near $83,000, it could head toward $80,000 next.
#比特币跌破8.4万美元 $BTC
Early this morning, Binance BTC briefly traded around $83,577, continuing to fall from the previous day.
This decline was not entirely unexpected. BTC failed to hold above around $87,000 after testing that level three times in recent days, as selling pressure remained overhead.
Meanwhile, the US high-interest-rate environment has yet to ease meaningfully, and markets are awaiting the Federal Reserve meeting minutes, making investors noticeably more cautious.
US spot Bitcoin ETF data has also started to cool.
On October 5, US spot Bitcoin ETFs saw net outflows of about $89.9 million, so institutional buying—which had been supporting the market—has weakened somewhat for now.
The $84,000 level has now shifted from support to a battleground. If Bitcoin also fails to hold its recent low near $83,000, it could head toward $80,000 next.
#比特币跌破8.4万美元 $BTC
