In this video, we break down Bitcoin on the 4hr chart using Elliott Wave Theory. You’ll discover both bullish and bearish scenarios, plus the critical price levels and targets to watch. Video by Koenz Trading.
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Bitcoin (BTC) is trading around $62,546, down 2.1% over the past 24 hours and nearly 5% for the week.
A deep, multi-day sell-off in global technology and semiconductor stocks is heavily dragging down risk assets across the board. Simultaneously, U.S. spot Bitcoin ETFs have logged a record 30-day net outflow of more than $6 billion, signaling an aggressive institutional shift toward risk aversion.
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Bitcoin Insights Today
1. Macro and Equity Correlation
-Tech Sector Contraction: Heavy liquidations in major tech equities have spilled over directly into the crypto derivatives markets.
-Options Expiry Pressure: The market is facing a massive $10.6 billion quarterly options expiry. The majority of open positions are currently out-of-the-money, creating a fragile short-term floor.
2. Institutional De-Risking & Corporate Signals
-ETF Drainage: Massive monthly capital flight from funds like BlackRock's IBIT has severely dried up intraday liquidity.
-MicroStrategy Scrutiny: Analytics firm CryptoQuant released a report urging MicroStrategy (MSTR) to pause systematic Bitcoin accumulation. They recommend restoring cash reserves to $2.8 billion to cover soaring preferred stock dividend obligations.
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