What happened to BTC this week, in a few numbers:
October 7–8: $729 million in net ETF outflows.
October 8: $1.09 billion in liquidations across the market, including $1.05 billion in long positions.
The price hit a low of $80,400. A total of 55,600 BTC was moved to exchanges at a loss—a signal of panic selling on-chain.
Then today, it bounced back to between $82,000 and $83,000.
$80,000 held.
That was the most important thing this week—not how high the bounce went, but that the price didn’t break decisively below the $80,000 level.
Below $80,000 lies the first major support since this summer’s bottom range (with a low of $58,000). Technically, the daily Supertrend support is at $79,663, and the weekly chart remains above the descending wedge breakout level.
The question now isn’t “how much has it bounced?” but “can the bounce last?”
ETF flows—whether money returns or continues to leave—are the key variable. The $729 million outflow on October 7–8 was one of the largest single-week outflows this year, as institutions reassessed risk allocations amid U.S. Treasury yields above 5.25%.
October 10 is Columbus Day, and U.S. bond markets are closed—one less source of pressure, but also one less data point to watch.
Next week, on October 13, JPMorgan leads the way as Q3 earnings season officially kicks off. Net interest income and loan-loss provisions at major banks are the clearest indicators of how much the high-interest-rate environment is weighing on the real economy this year, and they directly affect overall risk appetite.
Hold above $82,500, and watch for $84,000–$85,000; fall below $80,400, and $79,600–$80,000 is back in play.
Did you add or reduce your position this week?
$BTC
#比特币反弹至8.3万美元
October 7–8: $729 million in net ETF outflows.
October 8: $1.09 billion in liquidations across the market, including $1.05 billion in long positions.
The price hit a low of $80,400. A total of 55,600 BTC was moved to exchanges at a loss—a signal of panic selling on-chain.
Then today, it bounced back to between $82,000 and $83,000.
$80,000 held.
That was the most important thing this week—not how high the bounce went, but that the price didn’t break decisively below the $80,000 level.
Below $80,000 lies the first major support since this summer’s bottom range (with a low of $58,000). Technically, the daily Supertrend support is at $79,663, and the weekly chart remains above the descending wedge breakout level.
The question now isn’t “how much has it bounced?” but “can the bounce last?”
ETF flows—whether money returns or continues to leave—are the key variable. The $729 million outflow on October 7–8 was one of the largest single-week outflows this year, as institutions reassessed risk allocations amid U.S. Treasury yields above 5.25%.
October 10 is Columbus Day, and U.S. bond markets are closed—one less source of pressure, but also one less data point to watch.
Next week, on October 13, JPMorgan leads the way as Q3 earnings season officially kicks off. Net interest income and loan-loss provisions at major banks are the clearest indicators of how much the high-interest-rate environment is weighing on the real economy this year, and they directly affect overall risk appetite.
Hold above $82,500, and watch for $84,000–$85,000; fall below $80,400, and $79,600–$80,000 is back in play.
Did you add or reduce your position this week?
$BTC
#比特币反弹至8.3万美元