Bitcoin is seesawing around the $81,000 level. As of now, #BTC is trading at $80,980, up about 0.53% on the day. It briefly recovered to around $81,240 but failed to hold above that level.
The $81,000 level had previously been viewed as a short-term line of defense. Its breach triggered large-scale leveraged liquidations, so as prices retest this area from below, they naturally face the combined pressure of holders looking to break even and residual leverage. On the flows front, after a run of consecutive net outflows, Bitcoin spot ETFs recorded net inflows of $110 million on the latest trading day, with BlackRock’s IBIT the main contributor. However, this is only a sign that the decline may be stabilizing and is not yet enough to confirm a trend reversal.
On the macro front, markets are generally cautious ahead of the Fed’s interest rate decision. The lack of conviction about the direction of markets is itself likely to limit the rebound potential of risk assets. In the short term, watch two levels: whether Bitcoin can decisively reclaim $82,000–$82,500, and whether $80,000 can continue to provide support.
The $81,000 level had previously been viewed as a short-term line of defense. Its breach triggered large-scale leveraged liquidations, so as prices retest this area from below, they naturally face the combined pressure of holders looking to break even and residual leverage. On the flows front, after a run of consecutive net outflows, Bitcoin spot ETFs recorded net inflows of $110 million on the latest trading day, with BlackRock’s IBIT the main contributor. However, this is only a sign that the decline may be stabilizing and is not yet enough to confirm a trend reversal.
On the macro front, markets are generally cautious ahead of the Fed’s interest rate decision. The lack of conviction about the direction of markets is itself likely to limit the rebound potential of risk assets. In the short term, watch two levels: whether Bitcoin can decisively reclaim $82,000–$82,500, and whether $80,000 can continue to provide support.