BTC is hugging the $80K line, and today’s moves are mostly down to CPI
Current price: $81,187 (24h: -3.08%)
Bitcoin ETFs have seen $151 million in net outflows since Monday. The week before that, the figure was $681 million.
There’s another half of the story worth chewing on: XRP funds saw inflows that bucked the trend.
The money that left hasn’t exited crypto; it’s just moved from Bitcoin into other assets.
Last night’s US CPI came in hotter than expected. BTC fell 3.3% over 24 hours, reviving concerns that rate cuts could be pushed back. Crypto slid along with tech stocks.
Right now, the market is trading the price of money, not the story of crypto.
A quick word on what it means for moving averages to act as resistance.
Put simply, a moving average is the average cost over a period of time. When the price sits below it, most people who entered during that period are underwater. When the price rebounds to around that level, some will want to break even and get out, so sell orders naturally appear.
Both moving averages on the 4-hour chart are hanging above the price, and the daily one is even higher. That’s why today’s drop has left the rebound with no real strength.
Money is flowing out, all the cost levels are overhead, and open interest hasn’t increased either. There’s no new money coming in.
If $80K really breaks, that’s when there’ll be room to fall further;
if BTC holds firmly above $80K and bounces back after two retests, my bearish view is invalidated.
My take is that price will grind around $80K until trading volume picks up. Right now, volume on the 4-hour chart is still flat.
#BTC #行情观察 #比特币
Current price: $81,187 (24h: -3.08%)
Bitcoin ETFs have seen $151 million in net outflows since Monday. The week before that, the figure was $681 million.
There’s another half of the story worth chewing on: XRP funds saw inflows that bucked the trend.
The money that left hasn’t exited crypto; it’s just moved from Bitcoin into other assets.
Last night’s US CPI came in hotter than expected. BTC fell 3.3% over 24 hours, reviving concerns that rate cuts could be pushed back. Crypto slid along with tech stocks.
Right now, the market is trading the price of money, not the story of crypto.
A quick word on what it means for moving averages to act as resistance.
Put simply, a moving average is the average cost over a period of time. When the price sits below it, most people who entered during that period are underwater. When the price rebounds to around that level, some will want to break even and get out, so sell orders naturally appear.
Both moving averages on the 4-hour chart are hanging above the price, and the daily one is even higher. That’s why today’s drop has left the rebound with no real strength.
Money is flowing out, all the cost levels are overhead, and open interest hasn’t increased either. There’s no new money coming in.
If $80K really breaks, that’s when there’ll be room to fall further;
if BTC holds firmly above $80K and bounces back after two retests, my bearish view is invalidated.
My take is that price will grind around $80K until trading volume picks up. Right now, volume on the 4-hour chart is still flat.
#BTC #行情观察 #比特币