October 25. Today, I’m keeping my eye on just three things.
First, $BMT : it topped yesterday’s gainers list, but fell 6.7% within 15 minutes of today’s open, while trading volume surged to 2.6 times its usual level. A highly volatile coin like this will probably stay choppy today, so don’t try to catch it halfway down.
Second, ETFs: spot BTC ETFs have seen net outflows for two days in a row, with another $138 million flowing out yesterday. Until institutions come back to buy, the broader market is unlikely to see a meaningful rebound.
Third, price levels: $BTC 80,860 (-0.4%), $ETH 2,357 (-1.3%); the Fear & Greed Index is at 54, in neutral territory, and the funding rate is 0.0094%. These all point to a sideways market.
My take: I’m doing just one thing today—waiting. I’ll wait for BTC to break out of its range and for ETF outflows to stop. Until both happen, I’m staying out.
First, $BMT : it topped yesterday’s gainers list, but fell 6.7% within 15 minutes of today’s open, while trading volume surged to 2.6 times its usual level. A highly volatile coin like this will probably stay choppy today, so don’t try to catch it halfway down.
Second, ETFs: spot BTC ETFs have seen net outflows for two days in a row, with another $138 million flowing out yesterday. Until institutions come back to buy, the broader market is unlikely to see a meaningful rebound.
Third, price levels: $BTC 80,860 (-0.4%), $ETH 2,357 (-1.3%); the Fear & Greed Index is at 54, in neutral territory, and the funding rate is 0.0094%. These all point to a sideways market.
My take: I’m doing just one thing today—waiting. I’ll wait for BTC to break out of its range and for ETF outflows to stop. Until both happen, I’m staying out.