U.S. stocks are closed today, and ahead of CPI, $BTC has already touched $84,351.
Current market data shows BTC at $84,222, up 1.3% over the past 24 hours.
It dipped below $84,000 twice in the morning, then hit a daily high of $84,351 in the afternoon, also surpassing the overnight high of $84,200.
U.S. stocks are closed today, so there are no new daily ETF net inflows to verify for now.
Net inflows were about $21.1 million on October 9, with IBIT buying about $22.4 million; from October 5 to 9, net outflows still totaled about $679 million.
U.S. CPI is due Wednesday. Many traders are reluctant to build full positions ahead of the data, and volatility is often either compressed in advance or suddenly amplified.
Futures funding is around +0.001%, while open interest is down about 1.1% over the past 24 hours. Leverage hasn't rushed in either, suggesting the market is still waiting for its next cue.
For now, watch whether $84,000 can hold over the next couple of days. This is the first key level for gauging whether the afternoon breakout has support.
If it holds, prices will likely continue moving between $84,000 and $85,000 ahead of CPI.
If it breaks lower, the next level to watch for support is around $83,500, rather than rushing to chase shorts.
Keep futures positions light rather than heavy ahead of the data release.
Current market data shows BTC at $84,222, up 1.3% over the past 24 hours.
It dipped below $84,000 twice in the morning, then hit a daily high of $84,351 in the afternoon, also surpassing the overnight high of $84,200.
U.S. stocks are closed today, so there are no new daily ETF net inflows to verify for now.
Net inflows were about $21.1 million on October 9, with IBIT buying about $22.4 million; from October 5 to 9, net outflows still totaled about $679 million.
U.S. CPI is due Wednesday. Many traders are reluctant to build full positions ahead of the data, and volatility is often either compressed in advance or suddenly amplified.
Futures funding is around +0.001%, while open interest is down about 1.1% over the past 24 hours. Leverage hasn't rushed in either, suggesting the market is still waiting for its next cue.
For now, watch whether $84,000 can hold over the next couple of days. This is the first key level for gauging whether the afternoon breakout has support.
If it holds, prices will likely continue moving between $84,000 and $85,000 ahead of CPI.
If it breaks lower, the next level to watch for support is around $83,500, rather than rushing to chase shorts.
Keep futures positions light rather than heavy ahead of the data release.