Wintermute just sounded the alarm: $BTC spot ETFs saw $679 million in net outflows last week, the biggest since June, sending the price straight down into the $83,000 range. It fell 3.2% for the week.
Treasury yields just hit multi-decade highs, and the Fed is still talking tough about raising rates. $BTC 's market share surged to 59.5% as money piled into the leader, draining altcoins. $ETH took an even harder hit, dropping 7%, compounded by bearish news of the foundation moving funds between addresses. No wonder it got hit from both sides.
This isn't a spot to blindly buy the dip. Watch for two things first: whether long-term Treasury yields can stop rising, and when ETFs turn to net inflows. Until both happen, any rebound could be a bull trap. Better to keep your powder dry than make a reckless move.
Can $BTC hold the key $83,000 level this time? Comment 1 if you're bullish, or 2 if you'd rather wait for confirmation.
#Write2Earn #BinanceSquare #BTC ETF #TradingTournament
Treasury yields just hit multi-decade highs, and the Fed is still talking tough about raising rates. $BTC 's market share surged to 59.5% as money piled into the leader, draining altcoins. $ETH took an even harder hit, dropping 7%, compounded by bearish news of the foundation moving funds between addresses. No wonder it got hit from both sides.
This isn't a spot to blindly buy the dip. Watch for two things first: whether long-term Treasury yields can stop rising, and when ETFs turn to net inflows. Until both happen, any rebound could be a bull trap. Better to keep your powder dry than make a reckless move.
Can $BTC hold the key $83,000 level this time? Comment 1 if you're bullish, or 2 if you'd rather wait for confirmation.
#Write2Earn #BinanceSquare #BTC ETF #TradingTournament