🧊 BITCOIN'S NEW BUYERS JUST LEFT THE SELL ZONE
$BTC is back under $80K, trading near $79,600 at the bottom of its 30-day range (CoinGecko). Glassnode says that reset has a silver lining:
→ In late September, almost all short-term holder supply was in profit
→ Now it has cooled to about 70%
→ For buyers who expect the uptrend to continue, Glassnode calls this "a considerably better entry than a month ago"
→ But a midweek push toward $85K failed, longs keep paying funding, and spot and ETF buyers stepped back
My take: healthy reset, not capitulation. Longs still paying up into the Fed is what bothers me. I want a clean reclaim of $80K before Wednesday's decision. Without it, I expect one more flush to shake out the late longs.
Not financial advice. DYOR.
#Bitcoin #BTC #FOMC
$BTC is back under $80K, trading near $79,600 at the bottom of its 30-day range (CoinGecko). Glassnode says that reset has a silver lining:
→ In late September, almost all short-term holder supply was in profit
→ Now it has cooled to about 70%
→ For buyers who expect the uptrend to continue, Glassnode calls this "a considerably better entry than a month ago"
→ But a midweek push toward $85K failed, longs keep paying funding, and spot and ETF buyers stepped back
My take: healthy reset, not capitulation. Longs still paying up into the Fed is what bothers me. I want a clean reclaim of $80K before Wednesday's decision. Without it, I expect one more flush to shake out the late longs.
Not financial advice. DYOR.
#Bitcoin #BTC #FOMC
