$BTC 、$ETH saw a low-level rebound, but ETF withdrawal pressure is still ongoing. For the short term, we’ll first see whether it can reclaim lost ground.
At 03:19 Beijing time on October 9, the Binance price page shows that $BTC is around $81,530 USD, down 2.28% over the past 24 hours, with a period low of $80,337. The price has moved away from the low, but it is still below $82,000. (binance.com)
CoinMarketCap’s page for this round of checking shows that $ETH is around $2,453 USD, with a 24-hour low of $2,406, and it still hasn’t reclaimed $2,500. This looks like price repair, but it’s not enough to confirm a trend reversal.
On the capital side, on October 7, US $BTC and $ETH spot ETF net outflows were $484.9 million and $160.9 million, respectively. From October 5 to 7, the cumulative net outflows were $455.9 million for $BTC and $413.6 million for $ETH , meaning both are under redemption pressure.
Macro-wise, the sharp rise in oil prices and the still-elevated US high-grade treasury yields are suppressing risk appetite. If energy costs keep pushing inflation expectations higher, it could prolong the high-interest-rate environment and limit a recovery in crypto valuations. (reuters.com)
My take: cautious in the short term. $BTC ’s $82,000 and $ETH ’s $2,500 are rebound watch levels. Whether price can hold after reclaiming them—and whether ETF outflows can start to taper—is more important than a one-off surge.
This rebound—can it wait for sustained buying to take the baton?
Source: Binance, CoinMarketCap, Farside, Reuters. #CryptoMarket
At 03:19 Beijing time on October 9, the Binance price page shows that $BTC is around $81,530 USD, down 2.28% over the past 24 hours, with a period low of $80,337. The price has moved away from the low, but it is still below $82,000. (binance.com)
CoinMarketCap’s page for this round of checking shows that $ETH is around $2,453 USD, with a 24-hour low of $2,406, and it still hasn’t reclaimed $2,500. This looks like price repair, but it’s not enough to confirm a trend reversal.
On the capital side, on October 7, US $BTC and $ETH spot ETF net outflows were $484.9 million and $160.9 million, respectively. From October 5 to 7, the cumulative net outflows were $455.9 million for $BTC and $413.6 million for $ETH , meaning both are under redemption pressure.
Macro-wise, the sharp rise in oil prices and the still-elevated US high-grade treasury yields are suppressing risk appetite. If energy costs keep pushing inflation expectations higher, it could prolong the high-interest-rate environment and limit a recovery in crypto valuations. (reuters.com)
My take: cautious in the short term. $BTC ’s $82,000 and $ETH ’s $2,500 are rebound watch levels. Whether price can hold after reclaiming them—and whether ETF outflows can start to taper—is more important than a one-off surge.
This rebound—can it wait for sustained buying to take the baton?
Source: Binance, CoinMarketCap, Farside, Reuters. #CryptoMarket