The final night of the weekend—the $80K level is the real test.
$BTC is currently around $80.8K, down 1.2% over 24 hours. After the U.S. stock market closed Friday, it fell below $81K, hitting a low near $80.4K—its lowest since October 15. $ETH 2369 and $SOL 101.6 are both falling too. Altcoins are doing even worse: PEPE -12.8%, WLD -12.2%, NEAR -9.7%. Clearly, funds are taking shelter in BTC.
The backdrop: On October 22, U.S. spot BTC ETFs saw $635 million in outflows in a single day, ending a three-day inflow streak; oil is still above $100; and the October 28 FOMC meeting is coming up. Weekend liquidity is thin, so sharp wicks are likely.
My take: As long as $80K holds, we’re still range-bound. If it breaks, watch $79.7K first, then $78K. $81.9K is the first resistance above. Don’t chase longs until the price gets back above it. Avoid heavy altcoin dip-buying; wait for BTC to stabilize first.
Do you think $80K will hold through the weekend?
#BTC #CryptoMarket
Personal opinion only, not investment advice.
$BTC is currently around $80.8K, down 1.2% over 24 hours. After the U.S. stock market closed Friday, it fell below $81K, hitting a low near $80.4K—its lowest since October 15. $ETH 2369 and $SOL 101.6 are both falling too. Altcoins are doing even worse: PEPE -12.8%, WLD -12.2%, NEAR -9.7%. Clearly, funds are taking shelter in BTC.
The backdrop: On October 22, U.S. spot BTC ETFs saw $635 million in outflows in a single day, ending a three-day inflow streak; oil is still above $100; and the October 28 FOMC meeting is coming up. Weekend liquidity is thin, so sharp wicks are likely.
My take: As long as $80K holds, we’re still range-bound. If it breaks, watch $79.7K first, then $78K. $81.9K is the first resistance above. Don’t chase longs until the price gets back above it. Avoid heavy altcoin dip-buying; wait for BTC to stabilize first.
Do you think $80K will hold through the weekend?
#BTC #CryptoMarket
Personal opinion only, not investment advice.