$84320
This is the average price at which spot Bitcoin ETFs were bought, according to estimates by Bitfinex and Checkonchain.
The price was below it for 233 days,
and ETF buyers only got into the black on September 21.
Overnight, $BTC
touched $83800. That's it, back in the red :)
What went wrong:
- Weekly ETF inflows fell from $2.39B to $241.1M
- $415.3M in longs were liquidated in a cascade over 4 hours
Oil is getting more expensive amid attacks on tankers in the Strait of Hormuz, and 10-year bonds are already at 5.31%.
Bitfinex itself expected the price to be in a range from $84000 to $87722 this week. It briefly broke below the lower end. Their next support level is $81300.
The other day I wrote about the ceiling above the price; now the floor is visible too.
I don't have any bitcoin yet, and I'm leaving my BNB and stablecoin earn holdings untouched. But the main thing is clear: without new buyers, the entry level can't hold.
#BTC #etf #Bitfinex #ліквідації
This is the average price at which spot Bitcoin ETFs were bought, according to estimates by Bitfinex and Checkonchain.
The price was below it for 233 days,
and ETF buyers only got into the black on September 21.
Overnight, $BTC
touched $83800. That's it, back in the red :)
What went wrong:
- Weekly ETF inflows fell from $2.39B to $241.1M
- $415.3M in longs were liquidated in a cascade over 4 hours
Oil is getting more expensive amid attacks on tankers in the Strait of Hormuz, and 10-year bonds are already at 5.31%.
Bitfinex itself expected the price to be in a range from $84000 to $87722 this week. It briefly broke below the lower end. Their next support level is $81300.
The other day I wrote about the ceiling above the price; now the floor is visible too.
I don't have any bitcoin yet, and I'm leaving my BNB and stablecoin earn holdings untouched. But the main thing is clear: without new buyers, the entry level can't hold.
#BTC #etf #Bitfinex #ліквідації
