$BTC Rebounds, But Market Sentiment Remains Bearish ⚠️
Bitcoin is trading around $74,700, up 1.07% in 24 hours, but still down 2.51% over 7 days and nearly 10% over 30 days.
Despite the short-term bounce, market sentiment remains weak:
ETF Outflows: U.S. spot Bitcoin ETFs saw approximately $1.28B in weekly outflows.
Market Fear: Fear & Greed Index stands at 28.
Rising Leverage: Open interest increased 6.68% in 24 hours, raising liquidation risks.
Key Catalyst: U.S. October CPI data could influence Fed rate expectations and BTC's next move.
Key Levels:
Support: $73,200–$75,000
Resistance: $76,000–$76,200
Next Resistance: $78,000–$78,900
Market Outlook: BTC is attempting a recovery, but the broader trend remains cautious. Softer CPI and renewed ETF inflows could support a rebound, while hotter inflation or a breakdown below support may trigger further downside.
#Bitcoin #BTC #CryptoMarket #CryptoNews #BinanceSquare
Bitcoin is trading around $74,700, up 1.07% in 24 hours, but still down 2.51% over 7 days and nearly 10% over 30 days.
Despite the short-term bounce, market sentiment remains weak:
ETF Outflows: U.S. spot Bitcoin ETFs saw approximately $1.28B in weekly outflows.
Market Fear: Fear & Greed Index stands at 28.
Rising Leverage: Open interest increased 6.68% in 24 hours, raising liquidation risks.
Key Catalyst: U.S. October CPI data could influence Fed rate expectations and BTC's next move.
Key Levels:
Support: $73,200–$75,000
Resistance: $76,000–$76,200
Next Resistance: $78,000–$78,900
Market Outlook: BTC is attempting a recovery, but the broader trend remains cautious. Softer CPI and renewed ETF inflows could support a rebound, while hotter inflation or a breakdown below support may trigger further downside.
#Bitcoin #BTC #CryptoMarket #CryptoNews #BinanceSquare
