#BitcoinFallsToAround$84,600ThisWeek
Bitcoin’s drop to around $84,600 isn’t the whole story.
The more interesting part is what happened before the pullback.
BTC pushed above $87K this week, but failed to hold the breakout and quickly slipped back toward the $84K area. That reversal also came with heavy long liquidations as leveraged positions were flushed.
What caught my attention is the difference between price momentum and spot demand.
Short covering helped accelerate the move higher, while U.S. spot Bitcoin ETFs recorded roughly $999M of net inflows on Sept. 21.
So the question now isn't simply “Is Bitcoin bullish or bearish?”
Can real spot demand keep absorbing sellers after the leverage-driven move cools down?
That’s what I’d watch next.
$BTC
#bitcoin #BTCUpdate
Bitcoin’s drop to around $84,600 isn’t the whole story.
The more interesting part is what happened before the pullback.
BTC pushed above $87K this week, but failed to hold the breakout and quickly slipped back toward the $84K area. That reversal also came with heavy long liquidations as leveraged positions were flushed.
What caught my attention is the difference between price momentum and spot demand.
Short covering helped accelerate the move higher, while U.S. spot Bitcoin ETFs recorded roughly $999M of net inflows on Sept. 21.
So the question now isn't simply “Is Bitcoin bullish or bearish?”
Can real spot demand keep absorbing sellers after the leverage-driven move cools down?
That’s what I’d watch next.
$BTC
#bitcoin #BTCUpdate
