ETFs: +$1B in three days, yet price broke below 84,400
$BTC According to Binance spot data, on 10/22 the high was 84,377, the low was 80,940, and the close was 81,416. Price failed to hold above the 84,400 range ceiling; this morning it was around 81,230, stuck in the 80k–81.5k institutional/ETF cost band.
▶︎ According to Farside, U.S. spot BTC ETFs saw net inflows of about $1.075B over 10/19–21, but that wasn’t enough to stop the sell-off
▶︎ Binance perpetuals long/short account ratio was about 2.11, funding rate 0.006%; open interest fell overnight from 98,000 to 95,900 contracts
▶︎ $ETH fell below 2,400 and is now around 2,384; the next level to watch is 2,320
My take: the range has shifted from pushing toward the top to defending the bottom. If the daily close can’t hold 80k, I’ll be watching 79,800. Even if it holds, I wouldn’t rush to chase; volatility could pick up ahead of the 10/27–28 FOMC meeting. I’m not sure whether this cost zone will hold this time.
Risk: leveraged longs are somewhat crowded, so a breakdown could accelerate.
Do you care more about holding 80k, or would you rather wait until after the FOMC?
$BTC According to Binance spot data, on 10/22 the high was 84,377, the low was 80,940, and the close was 81,416. Price failed to hold above the 84,400 range ceiling; this morning it was around 81,230, stuck in the 80k–81.5k institutional/ETF cost band.
▶︎ According to Farside, U.S. spot BTC ETFs saw net inflows of about $1.075B over 10/19–21, but that wasn’t enough to stop the sell-off
▶︎ Binance perpetuals long/short account ratio was about 2.11, funding rate 0.006%; open interest fell overnight from 98,000 to 95,900 contracts
▶︎ $ETH fell below 2,400 and is now around 2,384; the next level to watch is 2,320
My take: the range has shifted from pushing toward the top to defending the bottom. If the daily close can’t hold 80k, I’ll be watching 79,800. Even if it holds, I wouldn’t rush to chase; volatility could pick up ahead of the 10/27–28 FOMC meeting. I’m not sure whether this cost zone will hold this time.
Risk: leveraged longs are somewhat crowded, so a breakdown could accelerate.
Do you care more about holding 80k, or would you rather wait until after the FOMC?