Topic
Market research on bitcoin's price that uses technical levels, on-chain cost-basis metrics and fund flows to set support, resistance and scenario ranges.
Bitcoin traded around $81,300 on Oct. 16, holding its 50-day average of $81,279 after dipping under $80,000. Trader Ardi says the structure stays bearish until $84,200, 3.5% above that price.
Reality
Glassnode says Bitcoin must reclaim $88,000, the cost basis of six-to-twelve-month holders, after US spot ETFs shed about $760 million since October 7. It wants sustained ETF inflows as confirmation, and hot September CPI has raised expectations of another Fed hike.
Reality
BTSE's Jeff Mei says Bitcoin could fall below $80,000 on a hot CPI print Wednesday or rebound to $86,000 or higher on a soft one. ViaBTC's Jeff Ko calls the print largely priced in and says his constructive view needs spot ETF flows to recover.
Perspective Coverage
4 publishersReality
Bitcoin traded near $83,000 on Monday, Decrypt and Bitcoin.com both reported. Decrypt put the odds of an October 28 Fed hike at 19.4% on CME FedWatch, yet spot ETFs took in only $21.13 million on Friday after two days of heavy outflows.
Reality
Bitcoin bounced from an $80,308 low to about $83,770 on Oct. 11, stalling just under $84,000 resistance. CryptoSlate, citing Checkonchain, puts the largest holder cost-basis cluster at $84,000 to $85,000, with support at $77,000 to $79,000 if the breakout fails.
Reality
US spot Bitcoin ETFs took in $241.1 million in the week to Oct. 2, about 90% less than a week earlier, Bitfinex analysts said. Their breakout test needs several sessions of at least $340 million each and a daily close above $87,722.
Reality