【Daily Market Watch | October 7】
BTC has pulled back from this week's high, near $87,000.
So far, BTC briefly fell below $84,000, down about 3% over 24 hours. ETH weakened in tandem, falling more than 4%. Short-term market sentiment has cooled noticeably.
There are several key factors to watch behind this pullback:
① U.S. Treasury yields continue to rise
The 10-year U.S. Treasury yield climbed to around 5.33%. High yields are weighing on the short-term performance of riskier assets.
② The dollar and oil prices are rising at the same time
The U.S. Dollar Index rose to around 102.28, while Brent crude approached $102 per barrel.
A stronger dollar and rising oil prices, compounded by geopolitical risks, are putting some pressure on risk appetite in the crypto market.
③ ETF inflows have not shown a clear slowdown for now
On October 6, U.S. spot BTC ETFs still recorded net inflows of about $119 million, including approximately $122 million into BlackRock IBIT.
This suggests that institutional funds have not fully pulled out even as prices have retreated.
④ The Fed meeting minutes are due to be released soon
The market is watching one key question:
Will the Fed lean more toward cutting rates, pausing, or continuing to emphasize inflation risks?
This will further affect the dollar, Treasury yields, and the flow of funds into the crypto market.
What really matters to watch today is not just whether BTC can keep rising, but whether:
Will the pullback around $84,000 develop into a deeper trend correction?
If ETF inflows continue, this pullback may be more of an adjustment driven by short-term profit-taking and macroeconomic pressures.
If ETF funds also begin flowing out steadily, the market will need to reassess the funding base behind this rally.
Price is only the surface.
Fund flows are what truly reveal changes in the market.
#crypto #bitcoin #BTC #Ethereum #币安广场征文活动
BTC has pulled back from this week's high, near $87,000.
So far, BTC briefly fell below $84,000, down about 3% over 24 hours. ETH weakened in tandem, falling more than 4%. Short-term market sentiment has cooled noticeably.
There are several key factors to watch behind this pullback:
① U.S. Treasury yields continue to rise
The 10-year U.S. Treasury yield climbed to around 5.33%. High yields are weighing on the short-term performance of riskier assets.
② The dollar and oil prices are rising at the same time
The U.S. Dollar Index rose to around 102.28, while Brent crude approached $102 per barrel.
A stronger dollar and rising oil prices, compounded by geopolitical risks, are putting some pressure on risk appetite in the crypto market.
③ ETF inflows have not shown a clear slowdown for now
On October 6, U.S. spot BTC ETFs still recorded net inflows of about $119 million, including approximately $122 million into BlackRock IBIT.
This suggests that institutional funds have not fully pulled out even as prices have retreated.
④ The Fed meeting minutes are due to be released soon
The market is watching one key question:
Will the Fed lean more toward cutting rates, pausing, or continuing to emphasize inflation risks?
This will further affect the dollar, Treasury yields, and the flow of funds into the crypto market.
What really matters to watch today is not just whether BTC can keep rising, but whether:
Will the pullback around $84,000 develop into a deeper trend correction?
If ETF inflows continue, this pullback may be more of an adjustment driven by short-term profit-taking and macroeconomic pressures.
If ETF funds also begin flowing out steadily, the market will need to reassess the funding base behind this rally.
Price is only the surface.
Fund flows are what truly reveal changes in the market.
#crypto #bitcoin #BTC #Ethereum #币安广场征文活动