Markets· ★★★· neutral·

Bitfinex: Bitcoin needs stronger spot demand after 42.5% Q3 rally

  • —Bitcoin's quarterly gain of about 42.5% ranks as its second-strongest Q3 since 2013
  • —U.S. spot Bitcoin ETFs logged nine straight sessions of inflows totaling $3.08 billion
  • —The ETF absorption-to-emission ratio fell from 25.6x on Sep. 21 to 1.8x on Sep. 29
  • —Absorbing selling pressure requires roughly 5x issuance, or about $190 million per day
Why it matters: Without spot demand, the rally may stall: a recovery above $85,000 would return 760,000 BTC to profit and lift the share of profitable supply above 75%.
#BTC
Source: Cryptonews.net
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