#BitcoinFallsToAround84600ThisWeek
Bitcoin fell below $84,000 on Wednesday, September 23-24, reversing sharply after briefly touching $87,000 earlier the same day, following a surprisingly strong US business activity report, according to Yahoo Finance and Crypto News Flash. The flash composite PMI hit 58.4 in September — its highest reading since July 2021 — pushing the 10-year Treasury yield back above 5%, which dampened appetite for risk assets like Bitcoin.
The reversal triggered heavy forced selling, with CoinGlass data showing $510-581 million in total crypto liquidations within 24 hours, over 93% of which came from long positions, per Crypto News Flash and Bloomingbit. Bitcoin swung as much as 4.32% from its intraday high near $87,283 down to about $83,874.
Despite the pullback, US spot Bitcoin ETFs kept attracting money, with $999 million in inflows Monday and $714.7 million Tuesday, according to KuCoin. Analyst Rekt Capital noted that Bitcoin's repeated failure to hold above $87,000 reinforces it as a key resistance zone, with price likely to keep oscillating between rallies and liquidity-driven pullbacks until a decisive weekly close above that level.
$NOM
$NIL
$BTC
Bitcoin fell below $84,000 on Wednesday, September 23-24, reversing sharply after briefly touching $87,000 earlier the same day, following a surprisingly strong US business activity report, according to Yahoo Finance and Crypto News Flash. The flash composite PMI hit 58.4 in September — its highest reading since July 2021 — pushing the 10-year Treasury yield back above 5%, which dampened appetite for risk assets like Bitcoin.
The reversal triggered heavy forced selling, with CoinGlass data showing $510-581 million in total crypto liquidations within 24 hours, over 93% of which came from long positions, per Crypto News Flash and Bloomingbit. Bitcoin swung as much as 4.32% from its intraday high near $87,283 down to about $83,874.
Despite the pullback, US spot Bitcoin ETFs kept attracting money, with $999 million in inflows Monday and $714.7 million Tuesday, according to KuCoin. Analyst Rekt Capital noted that Bitcoin's repeated failure to hold above $87,000 reinforces it as a key resistance zone, with price likely to keep oscillating between rallies and liquidity-driven pullbacks until a decisive weekly close above that level.
$NOM
$NIL
$BTC
