$84,000 is back, while ETFs are seeing record outflows.
CoinDesk, October 12: $BTC climbed back above $84,000, shrugging off last week’s $681 million in net ETF outflows—the biggest weekly total since June.
Price and flows are at odds: ETFs are seeing money leave, but the price is holding firm, suggesting spot buyers are stronger than expected. Analysts are watching support at $82,000, with the October 14 CPI report as the next catalyst.
My take: If the price can stay above $84,000 despite $681 million in outflows, bears may think twice before making a move here. But chasing prices ahead of CPI is like catching a falling knife; it’s safer to wait for the data.
Tap $BTC to see whether $84,000 can hold 👇
#BTC #ETF
Personal opinion only; not investment advice.
CoinDesk, October 12: $BTC climbed back above $84,000, shrugging off last week’s $681 million in net ETF outflows—the biggest weekly total since June.
Price and flows are at odds: ETFs are seeing money leave, but the price is holding firm, suggesting spot buyers are stronger than expected. Analysts are watching support at $82,000, with the October 14 CPI report as the next catalyst.
My take: If the price can stay above $84,000 despite $681 million in outflows, bears may think twice before making a move here. But chasing prices ahead of CPI is like catching a falling knife; it’s safer to wait for the data.
Tap $BTC to see whether $84,000 can hold 👇
#BTC #ETF
Personal opinion only; not investment advice.