Oct 17 🈷️ Comprehensive Market Analysis $BTC
💫 News:
Lingering CPI impact: September CPI rose to 3.7% year over year, while core CPI increased 0.3% month over month. A sharp rise in gasoline prices accounted for most of the increase.
Markets are repricing the odds of a Fed rate hike in October (27–28), and risk appetite is declining.
💫 Fund Flows:
In October, U.S. spot Bitcoin ETFs saw cumulative net outflows of about $535M. Recent flows: approximately +$175.6M on October 13, around -$261.5M on October 14, then a small net inflow of about +$5.1M on October 15. Net outflows over roughly one week were about $125–145M. Trading volume has been active, but institutional buying overall remains weak.
💫 Technical Analysis:
For the past two days, I’ve been reminding everyone that 83,800 is a resistance level overhead. If the price fails to break above it decisively, this level could mark a pause before another decline. The price is currently hovering around 81,300. During the day, watch to see whether it can hold above 82,500. If it cannot, once consolidation at this level ends, the daily downtrend channel may open up.
So, personally, I don’t think this decline is over yet. The next support zone to watch is between 78K and 75K.
$BTC
💫 News:
Lingering CPI impact: September CPI rose to 3.7% year over year, while core CPI increased 0.3% month over month. A sharp rise in gasoline prices accounted for most of the increase.
Markets are repricing the odds of a Fed rate hike in October (27–28), and risk appetite is declining.
💫 Fund Flows:
In October, U.S. spot Bitcoin ETFs saw cumulative net outflows of about $535M. Recent flows: approximately +$175.6M on October 13, around -$261.5M on October 14, then a small net inflow of about +$5.1M on October 15. Net outflows over roughly one week were about $125–145M. Trading volume has been active, but institutional buying overall remains weak.
💫 Technical Analysis:
For the past two days, I’ve been reminding everyone that 83,800 is a resistance level overhead. If the price fails to break above it decisively, this level could mark a pause before another decline. The price is currently hovering around 81,300. During the day, watch to see whether it can hold above 82,500. If it cannot, once consolidation at this level ends, the daily downtrend channel may open up.
So, personally, I don’t think this decline is over yet. The next support zone to watch is between 78K and 75K.
$BTC