BlackRock just net-bought more than $665.2 million into $BTC in a single day, halting a two-week streak of ETF net outflows totaling $910 million.
That reversal, with $526.7 million flowing back into the market, pushed $BTC at the time of writing to around $82,516.9 — almost exactly in line with the average cost basis of $82,300 for ETF investors. In plain terms: the big institutional buyers from the previous accumulation phase have now reached breakeven.
Crowds are very likely to FOMO in and chase longs when they see huge accumulation numbers. But futures traders need to keep a cool head — the breakeven zone for large funds is always highly sensitive, and it can easily trigger selling pressure from traders looking to exit at break-even after being trapped for two weeks, especially when the US 10-year Treasury yield is still anchored above 5%.
At this stage, I’d prioritize protecting capital and wait to see how actual absorption behaves around this $82,300–$82,500 cluster. If price holds and buy volume increases, then it may make sense to raise leverage — otherwise, wait longer.
$BTC which side of this zone are you on?
#BTC #Bitcoin #Crypto #Trading
That reversal, with $526.7 million flowing back into the market, pushed $BTC at the time of writing to around $82,516.9 — almost exactly in line with the average cost basis of $82,300 for ETF investors. In plain terms: the big institutional buyers from the previous accumulation phase have now reached breakeven.
Crowds are very likely to FOMO in and chase longs when they see huge accumulation numbers. But futures traders need to keep a cool head — the breakeven zone for large funds is always highly sensitive, and it can easily trigger selling pressure from traders looking to exit at break-even after being trapped for two weeks, especially when the US 10-year Treasury yield is still anchored above 5%.
At this stage, I’d prioritize protecting capital and wait to see how actual absorption behaves around this $82,300–$82,500 cluster. If price holds and buy volume increases, then it may make sense to raise leverage — otherwise, wait longer.
$BTC which side of this zone are you on?
#BTC #Bitcoin #Crypto #Trading