🚨 BITCOIN IS APPROACHING $80,000: OUR THESIS ADDS A NEW WARNING SIGN
On October 7, we warned that losing $85,000 would worsen our short-term outlook.
We also marked $83,000 as the next level to watch.
Today, Bitcoin has already lost that zone and is nearing $80,000.
But there’s another important piece of data.
📉 ETFs REPORT STRONG OUTFLOWS
U.S. spot ETFs (exchange-traded funds that hold Bitcoin directly) recorded approximately $485 million in net outflows on October 7.
This was the largest daily outflow since June.
This suggests weaker net demand through those funds during that session, though it doesn’t mean all institutional investors are selling.
⚠️ WHAT ARE WE WATCHING NOW?
🔴 BTC breaks and stays below $80k: risk increases of an extension toward $78k.
🟡 BTC holds $80k: stabilization or a rebound could appear.
🟢 BTC recovers $83k: the first meaningful sign of recovery.
Recovering $85k would further improve the scenario, while our original bullish condition is still holding $87k.
🌍 The macroeconomic backdrop also doesn’t help: high oil, high bond yields, and doubts about the Fed’s upcoming decisions.
📌 OUR READ
Pressure on Bitcoin already combines technical weakness and ETF capital outflows.
But a sharp drop doesn’t guarantee another immediate decline.
Don’t chase sells or buy just because the price fell. First confirmation. Then a decision.
📌 ALERT / FOLLOW-UP / OBSERVATION
#Bitcoin #BTC #crypto #etf #Binance
On October 7, we warned that losing $85,000 would worsen our short-term outlook.
We also marked $83,000 as the next level to watch.
Today, Bitcoin has already lost that zone and is nearing $80,000.
But there’s another important piece of data.
📉 ETFs REPORT STRONG OUTFLOWS
U.S. spot ETFs (exchange-traded funds that hold Bitcoin directly) recorded approximately $485 million in net outflows on October 7.
This was the largest daily outflow since June.
This suggests weaker net demand through those funds during that session, though it doesn’t mean all institutional investors are selling.
⚠️ WHAT ARE WE WATCHING NOW?
🔴 BTC breaks and stays below $80k: risk increases of an extension toward $78k.
🟡 BTC holds $80k: stabilization or a rebound could appear.
🟢 BTC recovers $83k: the first meaningful sign of recovery.
Recovering $85k would further improve the scenario, while our original bullish condition is still holding $87k.
🌍 The macroeconomic backdrop also doesn’t help: high oil, high bond yields, and doubts about the Fed’s upcoming decisions.
📌 OUR READ
Pressure on Bitcoin already combines technical weakness and ETF capital outflows.
But a sharp drop doesn’t guarantee another immediate decline.
Don’t chase sells or buy just because the price fell. First confirmation. Then a decision.
📌 ALERT / FOLLOW-UP / OBSERVATION
#Bitcoin #BTC #crypto #etf #Binance