Bitcoin has closed lower five weeks in a row, and last week the ETF selling sped up. US spot ETFs lost $1.28 billion in five days, the worst week since June. BlackRock’s IBIT accounted for $1.21 billion of it. The other driver is tech. Bitcoin dropped 5.6% on Thursday alongside the Nasdaq 100 and sat out Friday’s chip bounce. Right now bitcoin is trading like a leveraged Nasdaq bet, so Tuesday’s CPI and CoreWeave’s earnings will move it more than anything in crypto. @Jamie1Coutts says two levels matter from here: A weekly close below $73,191 opens the door to a deeper drop. $75,600 is the level bitcoin needs to reclaim to stop the slide.
Real VisionShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.