$ETH Today, BTC rebounded from a low near $81,000 to around $83,000.
How are your positions holding up?
1. The U.S. pauses action against Iran
Geopolitical tensions have eased in the short term. The safe-haven sentiment triggered by the earlier surge in oil prices has faded, and funds are flowing back into risk assets.
2. Core PCE data came in below expectations
The latest U.S. core PCE price index showed cooling inflation, easing inflationary pressure and boosting market expectations for Fed rate cuts—both positive for risk assets.
3. ETF inflows resume
On October 9, U.S. spot BTC ETFs recorded net inflows of $21.1 million, ending two consecutive days of net outflows totaling nearly $730 million. The previous week, BTC, ETH, and SOL ETFs saw combined outflows of $1.25 billion, but funds are now starting to flow back in.
4. Citi raises its price target
On October 1, Citi raised its BTC price target for the next 12 months to $113,000, giving the market a boost of confidence.
That said, keep in mind that the rebound is still relatively weak:
- There is sell-wall pressure of more than $35 million in the $85,000–$89,000 range
- BTC dominance is 58.4%, and altcoin liquidity remains fragile
- Prediction markets put the odds of BTC falling below $80,000 in October at 67%
For now, BTC is trading in a range of $82,000–$85,000. It’s not really a "massive pump"—more like a technical recovery after the sharp drop on October 7. $BTC
How are your positions holding up?
1. The U.S. pauses action against Iran
Geopolitical tensions have eased in the short term. The safe-haven sentiment triggered by the earlier surge in oil prices has faded, and funds are flowing back into risk assets.
2. Core PCE data came in below expectations
The latest U.S. core PCE price index showed cooling inflation, easing inflationary pressure and boosting market expectations for Fed rate cuts—both positive for risk assets.
3. ETF inflows resume
On October 9, U.S. spot BTC ETFs recorded net inflows of $21.1 million, ending two consecutive days of net outflows totaling nearly $730 million. The previous week, BTC, ETH, and SOL ETFs saw combined outflows of $1.25 billion, but funds are now starting to flow back in.
4. Citi raises its price target
On October 1, Citi raised its BTC price target for the next 12 months to $113,000, giving the market a boost of confidence.
That said, keep in mind that the rebound is still relatively weak:
- There is sell-wall pressure of more than $35 million in the $85,000–$89,000 range
- BTC dominance is 58.4%, and altcoin liquidity remains fragile
- Prediction markets put the odds of BTC falling below $80,000 in October at 67%
For now, BTC is trading in a range of $82,000–$85,000. It’s not really a "massive pump"—more like a technical recovery after the sharp drop on October 7. $BTC