We’re witnessing a significant net outflow of around $140 million from Bitcoin ETFs. Investors are pulling their funds, prompting major providers like Fidelity to sell off Bitcoin to meet these withdrawals in USD. 📉
As I’ve been highlighting daily, this trend has persisted for the past 1-2 weeks. Expect short-term selling pressure and market fluctuations as a result. 📊
Stay informed and stay ahead. Follow for more updates! 🔔 #Bitcoin❗ #Crypto
Bitcoin is holding above the lower support trendline of an ascending triangle, hinting at a potential bounce. This is a crucial level BTC must maintain.
A breakout above the triangle would confirm a bullish trend. The Ichimoku Cloud is also providing strong support, adding to the bullish momentum.
However, a breakdown below this support trendline could signal a bearish trend.
Today's CPI inflation numbers drop at 12:30 PM GMT! 🌍 Current market expectation: 3.4% YoY.
Here's the scoop: 🔸 If inflation is below expectations (3% or 3.1%), it’s bullish! 🐂 🔸 If inflation is above expectations (3.6% or 3.7%), it’s bearish! 🐻
Why does this matter? The Fed's response: 👇 Lower inflation = potential rate cuts = 🔥 for the markets! 👆 Higher inflation = prolonged high rates = 🚨 caution! Stay tuned and trade wisely! 💹💡
Trading Options: Trade STRK in both spot and futures markets. Purchase on the spot market or go long on futures with a stop-loss at $6.07. Leverage: 3X to 5X.
Yesterday's ETF flows were positive, totaling $105.1 million. Fidelity had inflows of $77 million, Bitwise received $14.3 million, and Ark saw $10.7 million in inflows. Both Blackrock and GBTC had no inflows. #BitcoinETF #Bitcoin❗
A rich man visited a village, offering $100 for each monkey. Villagers eagerly captured monkeys from the forest and sold them. As monkeys became scarce, the man increased his offer to $200, then $300. The villagers worked harder, eventually exhausting the monkey supply.
The rich man then announced he would pay $800 per monkey but had to leave town, leaving his manager in charge. The manager offered to sell monkeys for $400 each, promising the villagers could resell them for $800. Excited, the villagers bought the monkeys, using all their savings.
The manager disappeared, and the rich man never returned. The villagers were left with worthless monkeys, illustrating the dangers of greed and quick money schemes.
Perfect bounce from key support area between $67,000 and $68,000. 📉
If BTC breaks below $67,000, the next support is $63,000 - $64,000. For now, $67,000 remains the critical level to watch.
Bitcoin remains neutral in the short term, fluctuating between support and resistance ($67,000–$71,000). Expect more choppy sideways action, as predicted.