Uptober: BTC green in 10 of 13 Byears Is history enough to trust this time?
# $BTC closes Q3 up 43%, second best third quarter on record, and it does it with open interest sitting at a yearly low. that is the part uptober bears keep skipping. $382b in Ol, down 12% on the month, while spot ETF AUM goes from $100b to $111b in the same 30 days. this move runs on spot, the leverage got flushed in february and never came back. previous octobers ran on crowded longs and paid for it, last year's $19b liquidation day is the obvious example. an october that starts with zero excess leverage and $2.4b of weekly ETF inflows has a different ceiling. $87.3k is the eight month high, $90k is the only resistance matters above it, october averages 19% from $84k that lands around $100k. i think this one beats the average.
(Source: By AMI - Influence score)
# $BTC closes Q3 up 43%, second best third quarter on record, and it does it with open interest sitting at a yearly low. that is the part uptober bears keep skipping. $382b in Ol, down 12% on the month, while spot ETF AUM goes from $100b to $111b in the same 30 days. this move runs on spot, the leverage got flushed in february and never came back. previous octobers ran on crowded longs and paid for it, last year's $19b liquidation day is the obvious example. an october that starts with zero excess leverage and $2.4b of weekly ETF inflows has a different ceiling. $87.3k is the eight month high, $90k is the only resistance matters above it, october averages 19% from $84k that lands around $100k. i think this one beats the average.
(Source: By AMI - Influence score)