UPTOBER IS STRANGE THIS YEAR… 🍂
October is usually seen as the season when Bitcoin breaks out. But this year, the market is telling a different story.
💸 U.S. Bitcoin ETFs have seen about $430 million in net outflows in October, based on data through October 14. On October 14 alone, net outflows were around $261 million. <Cite refs={["turn246289search2","turn246289search3"]}/>
The worrying part isn’t just the price drop.
It’s this: when institutional buying weakens, where will the market find the demand to absorb selling pressure?
If rebounds aren’t strong enough to bring money flowing back in, is this a chance to buy the dip—or just a pause before another leg down?
Uptober may not be over yet. But believing that October has to go up could end up costing many people.
And if Bitcoin continues to weaken, leveraged dip-buyers could become the next source of supply.
What do you think, bro: is this just a shakeout before the next rally, or is this year’s Uptober turning into a trap? 👀
#Bitcoin #BTC #CryptoMarket #Uptober
$BTC $ETH $NXPC
October is usually seen as the season when Bitcoin breaks out. But this year, the market is telling a different story.
💸 U.S. Bitcoin ETFs have seen about $430 million in net outflows in October, based on data through October 14. On October 14 alone, net outflows were around $261 million. <Cite refs={["turn246289search2","turn246289search3"]}/>
The worrying part isn’t just the price drop.
It’s this: when institutional buying weakens, where will the market find the demand to absorb selling pressure?
If rebounds aren’t strong enough to bring money flowing back in, is this a chance to buy the dip—or just a pause before another leg down?
Uptober may not be over yet. But believing that October has to go up could end up costing many people.
And if Bitcoin continues to weaken, leveraged dip-buyers could become the next source of supply.
What do you think, bro: is this just a shakeout before the next rally, or is this year’s Uptober turning into a trap? 👀
#Bitcoin #BTC #CryptoMarket #Uptober
$BTC $ETH $NXPC