It's now back in a downtrend.
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老腊肉-kevin
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#比特币再度跌破8万美元 Bitcoin has fallen to its knees again. MicroStrategy has stopped buying, ETFs have gone soft, and where will the fresh capital come from?
Guys, BTC is currently at 80,129. It still looks like it’s holding above 80K, but something feels off in the market. Over the past 24 hours, $154 million in positions were liquidated across the crypto market, including $118 million in longs. Everyone betting on a rally got wiped out. The 79,400–79,600 range is this week’s last line of defense: buyers have stepped in every time the price has dipped there, but each rebound has stalled at 80,800.
Two longtime bulls have hit the brakes at the same time.
MicroStrategy didn’t buy a single BTC last week, ending its five-week buying streak. Instead, it spent $205 million on preferred stock buybacks. Its cash balance dropped from $447 million to $242 million, and its ammunition is visibly running low.
The ETF picture is even messier. They posted net inflows of $301 million for the week, but $773 million flowed out on Thursday and Friday. Thursday’s $636 million outflow was the largest single-day outflow since October. The Coinbase Premium Index has been negative for 33 consecutive days. U.S. spot buying is genuinely exhausted.
Where will the fresh capital come from?
Honestly, there’s no sign of it right now. The Fed’s decision is due early Thursday, and the market is betting it will hold steady, but expectations of a December rate hike have already surged to nearly 80%. Earnings reports from the tech giants are dropping one after another this week, and the AI narrative is sucking up a lot of risk appetite. Investors would rather bet on Nvidia than touch crypto. The risk of MicroStrategy being dropped from the MSCI index is still hanging over it; we’ll know on November 11, and passive funds could pull out in another wave.
80K is a cover-up, not a bottom. With MicroStrategy pausing its buying, ETFs acting erratically, and macro pressures mounting, don’t expect big money to come in and lift the market anytime soon. If you’re waiting for fresh capital, watch for two signals: the Fed softening its tone, or MicroStrategy pulling the trigger again. $BTC $ETH $MSTR #Strategy未购比特币斥资2.05亿美元回购STRC
Guys, BTC is currently at 80,129. It still looks like it’s holding above 80K, but something feels off in the market. Over the past 24 hours, $154 million in positions were liquidated across the crypto market, including $118 million in longs. Everyone betting on a rally got wiped out. The 79,400–79,600 range is this week’s last line of defense: buyers have stepped in every time the price has dipped there, but each rebound has stalled at 80,800.
Two longtime bulls have hit the brakes at the same time.
MicroStrategy didn’t buy a single BTC last week, ending its five-week buying streak. Instead, it spent $205 million on preferred stock buybacks. Its cash balance dropped from $447 million to $242 million, and its ammunition is visibly running low.
The ETF picture is even messier. They posted net inflows of $301 million for the week, but $773 million flowed out on Thursday and Friday. Thursday’s $636 million outflow was the largest single-day outflow since October. The Coinbase Premium Index has been negative for 33 consecutive days. U.S. spot buying is genuinely exhausted.
Where will the fresh capital come from?
Honestly, there’s no sign of it right now. The Fed’s decision is due early Thursday, and the market is betting it will hold steady, but expectations of a December rate hike have already surged to nearly 80%. Earnings reports from the tech giants are dropping one after another this week, and the AI narrative is sucking up a lot of risk appetite. Investors would rather bet on Nvidia than touch crypto. The risk of MicroStrategy being dropped from the MSCI index is still hanging over it; we’ll know on November 11, and passive funds could pull out in another wave.
80K is a cover-up, not a bottom. With MicroStrategy pausing its buying, ETFs acting erratically, and macro pressures mounting, don’t expect big money to come in and lift the market anytime soon. If you’re waiting for fresh capital, watch for two signals: the Fed softening its tone, or MicroStrategy pulling the trigger again. $BTC $ETH $MSTR #Strategy未购比特币斥资2.05亿美元回购STRC
Disclaimer: Includes third-party opinions. No advice. Binance AI may be used without guarantee. See T&Cs.