The market is treading water, BTC is a little dull, but the overnight data had a few noteworthy points.
This morning, market breadth was "mild green," with 55/100 coins in the green. BTC was trading sideways around $82,213.08 (+0.93%) after the weekend flash crash. Bitcoin ETFs have just recorded nearly $1 billion in net outflows over the past two weeks, suggesting institutional investors are taking profits. ETH followed suit, trading at $2,410.32 (+0.38%), while Ether ETFs saw even heavier outflows of around $320.1 million last week. BlackRock's ETHA led the way with $299 million.
$GTC (+19.76%) and AMP (+13.53%) are blazing green. On the other hand, A (-18.77%) and AVA (-18.47%) took a hard hit, while Cardano also fell 14.6% over the past week. Total volume across the top 100 reached $2,767,662,419.
On the macro front, September CPI came in above expectations at 3.7%. The Fed may hold rates steady at the end of this month, but another 50 bps hike is expected by 2027. On-chain: BTC's MVRV is in the 25.7% accumulation zone, while whales are still distributing. đ
With ETF net outflows and persistent inflation, what level are you watching during this consolidation phase? đ
#Write2Earn #CryptoTrading #TechnicalAnalysis
This morning, market breadth was "mild green," with 55/100 coins in the green. BTC was trading sideways around $82,213.08 (+0.93%) after the weekend flash crash. Bitcoin ETFs have just recorded nearly $1 billion in net outflows over the past two weeks, suggesting institutional investors are taking profits. ETH followed suit, trading at $2,410.32 (+0.38%), while Ether ETFs saw even heavier outflows of around $320.1 million last week. BlackRock's ETHA led the way with $299 million.
$GTC (+19.76%) and AMP (+13.53%) are blazing green. On the other hand, A (-18.77%) and AVA (-18.47%) took a hard hit, while Cardano also fell 14.6% over the past week. Total volume across the top 100 reached $2,767,662,419.
On the macro front, September CPI came in above expectations at 3.7%. The Fed may hold rates steady at the end of this month, but another 50 bps hike is expected by 2027. On-chain: BTC's MVRV is in the 25.7% accumulation zone, while whales are still distributing. đ
With ETF net outflows and persistent inflation, what level are you watching during this consolidation phase? đ
#Write2Earn #CryptoTrading #TechnicalAnalysis