In this video: Since the breakout on 21 September, 2.66 billion dollars have flowed into the Bitcoin ETFs, and yet Bitcoin has slipped to around 83,000 dollars today. So who is actually selling? In today's Bitcoin analysis we go through the data step by step: ETF flows, Mt. Gox, the exchanges, the long-term holders, the new buyers and the leverage. Then the chart with Elliott Wave: wave 4 in the orange count, the range between 81,617 and 87,250 dollars and what a break up or down would mean. Video by More Crypto Online.
Visit Trading Platform >>
The ETFs are buying, the long-term holders are selling, and as long as the new buyers absorb it, Bitcoin stays in its range between 81,617 and 87,250 dollars.
Bitcoin (BTC) is trading around $83,400 to $83,700, experiencing a sharp intraday decline of roughly 2.5% to 3.3%. The cryptocurrency market took a notable hit on Wednesday, triggering a massive wave of forced liquidations.
New to trading? Join iqoption for free educational materials, a risk-free demo account, and a low minimum deposit($20). Start your journey in the financial markets now!
Learn more >>
Bitcoin Insights Today
• $400M+ Leverage Flush: Leveraged traders who piled into long positions were forcefully shaken out today. A sudden, rapid dip wiped out over $400 million in leveraged long bets within a very tight window, stoking fears of broader market volatility.
• Geopolitical & Macro Headwinds: The decline is heavily linked to a broader risk-off environment. Geopolitical tensions (specifically headlines tracking US-Iran oil nerves and conflicts around the Strait of Hormuz) sent Brent crude oil soaring to $102 per barrel. Concurrently, 10-year US Treasury yields surged to a new 24-year high of 5.31%, draining liquidity away from highly speculative assets like crypto.
• The "$85,000 Order Wall": On-chain data indicates strong resistance. Analysts at Glassnode and CryptoQuant highlighted heavy profit-taking and a massive supply wall between $84,000 and $85,500 built up by long-term holders. Failing to sustain momentum above this zone triggered the immediate technical pullback.
• The Silver Lining: Despite the immediate spot correction, corporate and institutional interest persists. Robinhood recently disclosed a fresh $25 million BTC purchase for its corporate balance sheet. Meanwhile, speaking at Token2049 in Singapore, prominent analysts like Fundstrat's Tom Lee stated they believe the market is just "days past the bottom" of this cycle's correction.
Buy, sell, and store over 400 digital assets at one of Europe’s leading exchanges. Crypto trading and staking made simple!
Learn more >>
