🔥 BITCOIN MARKET UPDATE: $527M ETF Inflow But Price Still Fell - What's Happening?
This is weird but important!
US Spot Bitcoin ETFs saw $526.7M inflow on Monday - Biggest since Sep 22.
BlackRock's IBIT alone bought $665.2M!
But Bitcoin still dropped 0.5% to $81,383.
WHY?
1. FEAR IN OPTIONS MARKET:
On Deribit, Puts are beating Calls 2:1. The $80K Put for Oct 30 is the MOST traded contract. Means traders are hedging for a drop below $80K.
2. LONG LIQUIDATIONS:
Longs hold 55% positions but took 69% of liquidations. Leverage is getting wiped.
3. GOOD NEWS INSIDE:
Glassnode says Short-Term Holder selling pressure is finally easing - inflows back to annual average after 2 weeks of heavy selling. This is BULLISH long-term.
4. GLOBAL ADOPTION:
- Switzerland approved its FIRST Bitcoin ETF
- JPMorgan says Bitcoin is its TOP return pick for next 10 years!
My Take:
This is classic shakeout. Big money (ETFs) is buying, weak hands are selling and buying $80K puts out of fear. When STH selling is over, this $527M inflow will start pushing price.
$80K is now the key level to watch. Hold above $81,481 (50-day MA) = bullish comeback.
What do you think - will Bitcoin hold $80K or break below?
#Bitcoin #BTC #ETF #BinanceNews #CryptoWithMRK #MarketUpdate #Write2Earn #CryptoNews
This is weird but important!
US Spot Bitcoin ETFs saw $526.7M inflow on Monday - Biggest since Sep 22.
BlackRock's IBIT alone bought $665.2M!
But Bitcoin still dropped 0.5% to $81,383.
WHY?
1. FEAR IN OPTIONS MARKET:
On Deribit, Puts are beating Calls 2:1. The $80K Put for Oct 30 is the MOST traded contract. Means traders are hedging for a drop below $80K.
2. LONG LIQUIDATIONS:
Longs hold 55% positions but took 69% of liquidations. Leverage is getting wiped.
3. GOOD NEWS INSIDE:
Glassnode says Short-Term Holder selling pressure is finally easing - inflows back to annual average after 2 weeks of heavy selling. This is BULLISH long-term.
4. GLOBAL ADOPTION:
- Switzerland approved its FIRST Bitcoin ETF
- JPMorgan says Bitcoin is its TOP return pick for next 10 years!
My Take:
This is classic shakeout. Big money (ETFs) is buying, weak hands are selling and buying $80K puts out of fear. When STH selling is over, this $527M inflow will start pushing price.
$80K is now the key level to watch. Hold above $81,481 (50-day MA) = bullish comeback.
What do you think - will Bitcoin hold $80K or break below?
#Bitcoin #BTC #ETF #BinanceNews #CryptoWithMRK #MarketUpdate #Write2Earn #CryptoNews