October 19: “Black Monday” didn’t happen, but three signals are still worth watching
This Monday marks the 39th anniversary of the 1987 stock market crash. Santiment reports a sharp increase in discussions of a “Black Monday” on crypto social media, following a volatile weekend during which Bitcoin came close to $80,750. It rebounded to around $82,500 $ Monday (+1 to 2%, depending on the sources), with a weekly close above $82 000 .
What helped: a better-than-expected Chinese release, oil retreating from a five-month high, and a speech by Fed Governor Christopher Waller that did not strengthen expectations of an October rate hike. The Nasdaq had nevertheless fallen sharply toward the end of the week.
The three signals
→ ETF flows: Bitcoin -228.4 M$ and Ethereum -320.1 M$ over five sessions (Ted Pillows). A first day of net inflows would mark a shift
→ The 84 000 $ ceiling: Bitcoin has reclaimed its 20-day moving average, around $82,600, but has not broken through this level
→ The 81 000 $ support: analyst Ali Martinez identifies it as the bottom of the channel. Below it, he points to $76 000 . Above it, $84 000 , then $86,500
One source of support: Strategy bought 250 BTC and repurchased $192 M$ worth of its STRC preferred stock this week.
My analysis: the market absorbed the day’s fear, but the real test is flows and the ceiling. These are analysts’ levels, not forecasts.
This is not investment advice.
Which level are you watching tonight: $81 000 , $84 000 $ , or something else?#BitcoinSurpasses$83,000
This Monday marks the 39th anniversary of the 1987 stock market crash. Santiment reports a sharp increase in discussions of a “Black Monday” on crypto social media, following a volatile weekend during which Bitcoin came close to $80,750. It rebounded to around $82,500 $ Monday (+1 to 2%, depending on the sources), with a weekly close above $82 000 .
What helped: a better-than-expected Chinese release, oil retreating from a five-month high, and a speech by Fed Governor Christopher Waller that did not strengthen expectations of an October rate hike. The Nasdaq had nevertheless fallen sharply toward the end of the week.
The three signals
→ ETF flows: Bitcoin -228.4 M$ and Ethereum -320.1 M$ over five sessions (Ted Pillows). A first day of net inflows would mark a shift
→ The 84 000 $ ceiling: Bitcoin has reclaimed its 20-day moving average, around $82,600, but has not broken through this level
→ The 81 000 $ support: analyst Ali Martinez identifies it as the bottom of the channel. Below it, he points to $76 000 . Above it, $84 000 , then $86,500
One source of support: Strategy bought 250 BTC and repurchased $192 M$ worth of its STRC preferred stock this week.
My analysis: the market absorbed the day’s fear, but the real test is flows and the ceiling. These are analysts’ levels, not forecasts.
This is not investment advice.
Which level are you watching tonight: $81 000 , $84 000 $ , or something else?#BitcoinSurpasses$83,000