On this day one year ago, $BTC saw around $19 billion in leveraged positions wiped out overnight. Today, it’s eerily quiet, but something about this calm doesn’t feel right 🤔
According to Coinotag, U.S. spot BTC ETFs saw net outflows of around $680 million this week, only turning to a small net inflow on Friday.
Meanwhile, according to Investing.com, open interest in futures contracts has been rising during these days of falling prices. Spot money is pulling out, while leverage is stepping in.
My take: Bounces in this kind of setup tend to be fragile 📍
If BTC holds this week’s low of 80,394, ETF inflows could push it back toward the daily MA20 near 84,393;
If it breaks below 80,394, the new leveraged long positions added this week could become fuel for further declines.
A year later, do you think leverage has learned its lesson?
Sources: Coinotag, Investing.com, Binance market data
#比特币 #ETF $BTC
#BinanceSquare
⚠️ The above is a summary of information and my personal opinion, and does not constitute investment advice. DYOR.
According to Coinotag, U.S. spot BTC ETFs saw net outflows of around $680 million this week, only turning to a small net inflow on Friday.
Meanwhile, according to Investing.com, open interest in futures contracts has been rising during these days of falling prices. Spot money is pulling out, while leverage is stepping in.
My take: Bounces in this kind of setup tend to be fragile 📍
If BTC holds this week’s low of 80,394, ETF inflows could push it back toward the daily MA20 near 84,393;
If it breaks below 80,394, the new leveraged long positions added this week could become fuel for further declines.
A year later, do you think leverage has learned its lesson?
Sources: Coinotag, Investing.com, Binance market data
#比特币 #ETF $BTC
#BinanceSquare
⚠️ The above is a summary of information and my personal opinion, and does not constitute investment advice. DYOR.