$BTC Before the U.S. stock market opens, let’s look at a few Binance futures figures together:
· 82,750; today’s low is 82,150, the lowest in the past 7 days
· 84,830 seven days ago; the 7-day high is 87,250
· Open interest is about $7.98 billion, almost unchanged from a week ago ($7.975 billion), after peaking at $8.43 billion in between
· Funding rate: -0.002%, close to zero
As the price fell from 87,250 to 82,150, open interest rose first and then returned to its starting point, while the funding rate never turned noticeably negative. This looks more like long positions closing than new shorts piling in.
Catalyst: Spot ETFs saw net outflows of about $485 million on 10/7 (Farside). Tonight’s ETF data during U.S. trading hours will be the next key test.
Scenario 1: If 82,150 holds and ETF outflows narrow, the price could revisit 83,490 (today’s high)–84,830.
Scenario 2: If 82,150 breaks, marking a new 7-day low, the next reference point on the daily chart is the 30-day low of 74,909, about 9% lower.
Do you think ETFs will see continued outflows tonight, or will flows turn positive?
· 82,750; today’s low is 82,150, the lowest in the past 7 days
· 84,830 seven days ago; the 7-day high is 87,250
· Open interest is about $7.98 billion, almost unchanged from a week ago ($7.975 billion), after peaking at $8.43 billion in between
· Funding rate: -0.002%, close to zero
As the price fell from 87,250 to 82,150, open interest rose first and then returned to its starting point, while the funding rate never turned noticeably negative. This looks more like long positions closing than new shorts piling in.
Catalyst: Spot ETFs saw net outflows of about $485 million on 10/7 (Farside). Tonight’s ETF data during U.S. trading hours will be the next key test.
Scenario 1: If 82,150 holds and ETF outflows narrow, the price could revisit 83,490 (today’s high)–84,830.
Scenario 2: If 82,150 breaks, marking a new 7-day low, the next reference point on the daily chart is the 30-day low of 74,909, about 9% lower.
Do you think ETFs will see continued outflows tonight, or will flows turn positive?