☀️ M.D Crypto Morning Brief 10.22
Market: $BTC 83662, +0.9%, high/low 84898/82635; $ETH 2454, +0.15%; $SOL 106 down 0.3%; BNB 745.7, +0.47%, rock steady. Altcoins were sharply split: ALT +28.3% and BMT +25.6% took off, while MITO -26.2% and GTC -18.5% crashed. Fear & Greed Index: 68, Greed.
ETF flows have been a real roller coaster over the past couple of days. On Monday, spot $BTC ETFs alone saw net inflows of $526.7 million—the biggest single-day total in nearly a month, mostly from BlackRock’s IBIT. $BTC promptly surged to $84,800, its first time there since late January, while $125 million in shorts were liquidated in just one hour. And the next day? Inflows plunged to just $23.16 million, down 96%, while BITB saw over $10 million in redemptions. That’s around $550 million over two days—institutions weren’t just dipping their toes in.
The interesting part is that while everyone was talking about a breakout as prices surged, the resistance zone around $85K–$90K was still very much in place. Sentiment is at 68, while hotter-than-expected US PPI is keeping inflation stubbornly high, and the FOMC’s October 28 rate decision is just around the corner.
At this point in the market, sentiment is already half a step ahead of price.
Market: $BTC 83662, +0.9%, high/low 84898/82635; $ETH 2454, +0.15%; $SOL 106 down 0.3%; BNB 745.7, +0.47%, rock steady. Altcoins were sharply split: ALT +28.3% and BMT +25.6% took off, while MITO -26.2% and GTC -18.5% crashed. Fear & Greed Index: 68, Greed.
ETF flows have been a real roller coaster over the past couple of days. On Monday, spot $BTC ETFs alone saw net inflows of $526.7 million—the biggest single-day total in nearly a month, mostly from BlackRock’s IBIT. $BTC promptly surged to $84,800, its first time there since late January, while $125 million in shorts were liquidated in just one hour. And the next day? Inflows plunged to just $23.16 million, down 96%, while BITB saw over $10 million in redemptions. That’s around $550 million over two days—institutions weren’t just dipping their toes in.
The interesting part is that while everyone was talking about a breakout as prices surged, the resistance zone around $85K–$90K was still very much in place. Sentiment is at 68, while hotter-than-expected US PPI is keeping inflation stubbornly high, and the FOMC’s October 28 rate decision is just around the corner.
At this point in the market, sentiment is already half a step ahead of price.