The $76,000 level was officially lost yesterday.
$BTC 11 closed at $74,585 on November 8, while the 365-day moving average stood at $76,490—the closing price ended up below the average. It briefly fell to $73,708 intraday, its lowest level since August.
What’s more worth watching is where the money is going: U.S. spot BTC ETFs saw $1.28 billion in outflows last week. On November 6 alone, $410 million flowed out, with BlackRock’s IBIT accounting for $400 million of that. The Fear & Greed Index is at 29, still in fear territory.
Losing the moving average doesn’t mean another leg down is imminent. It means just one thing: the average buying price over the past year is now underwater across the board, and there are fewer and fewer buyers stepping in to support the price.
Tomorrow at 21:30, the U.S. October CPI will be released. If the data comes in hotter than expected again, the prospect of rate hikes will remain on the table. Do you think Bitcoin can reclaim this moving average by the end of next week?
#行情分析 #Bitcoin
#行情分析 #Bitcoin
$BTC 11 closed at $74,585 on November 8, while the 365-day moving average stood at $76,490—the closing price ended up below the average. It briefly fell to $73,708 intraday, its lowest level since August.
What’s more worth watching is where the money is going: U.S. spot BTC ETFs saw $1.28 billion in outflows last week. On November 6 alone, $410 million flowed out, with BlackRock’s IBIT accounting for $400 million of that. The Fear & Greed Index is at 29, still in fear territory.
Losing the moving average doesn’t mean another leg down is imminent. It means just one thing: the average buying price over the past year is now underwater across the board, and there are fewer and fewer buyers stepping in to support the price.
Tomorrow at 21:30, the U.S. October CPI will be released. If the data comes in hotter than expected again, the prospect of rate hikes will remain on the table. Do you think Bitcoin can reclaim this moving average by the end of next week?
#行情分析 #Bitcoin
#行情分析 #Bitcoin