$487 million flowed out in a single day—the worst day in weeks for spot BTC ETFs.
Just the day before (10/6), they saw $119 million in net inflows, then suddenly turned around and dumped.
Smart money’s attitude is more honest than the candlestick chart.
Now let’s look at the 1h chart:
This week’s high: 86,999 → low: 82,227; current price: 83,040, down 1.89% in the range.
Bollinger middle band: 83,126; upper band: 83,646; lower band: 82,606. Price is hugging the middle band, and the rebound has little strength.
My take:
1) 82,200–82,600 is the line between life and death for bulls and bears, with the lower band overlapping the previous low.
2) If it holds, this is probably just consolidation after the rally;
3) A decisive break below, and the next level analysts are watching is the round-number mark of 80,000.
4) Invalidation: if price moves above 83,650 on strong volume and holds there, I’ll admit I was too bearish.
Next catalysts: CPI on 10/14, and the Fed meets on 10/27–28. If ETF funds don’t flow back in, I wouldn’t dare chase the rebound.
Do you think ETF outflows are a short-term shakeout, or has the wind really changed?
$BTC $ETH
#BTC #ETF #contentfarming
Just my personal opinion. Be aware of the risks, DYOR
Just the day before (10/6), they saw $119 million in net inflows, then suddenly turned around and dumped.
Smart money’s attitude is more honest than the candlestick chart.
Now let’s look at the 1h chart:
This week’s high: 86,999 → low: 82,227; current price: 83,040, down 1.89% in the range.
Bollinger middle band: 83,126; upper band: 83,646; lower band: 82,606. Price is hugging the middle band, and the rebound has little strength.
My take:
1) 82,200–82,600 is the line between life and death for bulls and bears, with the lower band overlapping the previous low.
2) If it holds, this is probably just consolidation after the rally;
3) A decisive break below, and the next level analysts are watching is the round-number mark of 80,000.
4) Invalidation: if price moves above 83,650 on strong volume and holds there, I’ll admit I was too bearish.
Next catalysts: CPI on 10/14, and the Fed meets on 10/27–28. If ETF funds don’t flow back in, I wouldn’t dare chase the rebound.
Do you think ETF outflows are a short-term shakeout, or has the wind really changed?
$BTC $ETH
#BTC #ETF #contentfarming
Just my personal opinion. Be aware of the risks, DYOR