$BTC ETFs took in ~$1.08B over three days, then lost $635M in one. Is $80K about to be tested?
This week looked a lot like a fakeout. $BTC topped at $84,840 on 10/21, failed to break the $85K resistance zone, and closed around $81,316 on 10/22, down 3.2% on the day. $ETH slid to about $2,389 (-3.4%), and the Fear & Greed Index dropped from 68 to 50 in a single day.
The flows are the more interesting part. US spot Bitcoin ETFs pulled in roughly $1.08B from 10/19 to 10/21, then saw $635M leave on 10/22, the biggest single-day outflow since 6/25. DWF Labs research suggests ETF selling picks up noticeably once BTC closes about 7% below its 20-day high. Based on this week's numbers, that line sits near $80,470, almost right on top of the $80K support everyone is watching.
My take: in the short term, the key isn't headlines, it's whether $80K holds. Add Middle East tension pushing oil higher, weak tech stocks, and the 10/27-28 FOMC meeting, and volatility could pick up next week. Managing position size beats chasing pumps and panic-selling dips.
Do you think $80K holds?
#BTC #ETH #BitcoinETF #FOMC #Crypto
Not financial advice.
This week looked a lot like a fakeout. $BTC topped at $84,840 on 10/21, failed to break the $85K resistance zone, and closed around $81,316 on 10/22, down 3.2% on the day. $ETH slid to about $2,389 (-3.4%), and the Fear & Greed Index dropped from 68 to 50 in a single day.
The flows are the more interesting part. US spot Bitcoin ETFs pulled in roughly $1.08B from 10/19 to 10/21, then saw $635M leave on 10/22, the biggest single-day outflow since 6/25. DWF Labs research suggests ETF selling picks up noticeably once BTC closes about 7% below its 20-day high. Based on this week's numbers, that line sits near $80,470, almost right on top of the $80K support everyone is watching.
My take: in the short term, the key isn't headlines, it's whether $80K holds. Add Middle East tension pushing oil higher, weak tech stocks, and the 10/27-28 FOMC meeting, and volatility could pick up next week. Managing position size beats chasing pumps and panic-selling dips.
Do you think $80K holds?
#BTC #ETH #BitcoinETF #FOMC #Crypto
Not financial advice.