Bitcoin clears $85K, but weak ETF demand risks a bull trap
- —Bitcoin cleared the $85K level after a week of failed attempts as the sell wall disappeared
- —Fed rate-hike odds dropped from 70% to 26% according to FedWatch data
- —U.S. spot Bitcoin ETFs saw $148.7 million in net outflows, with FBTC leading at $125.6 million
- —$136.72 million in BTC sell orders are stacked between $89K and $109K on Coinbase
Why it matters: The $85K breakout may prove a fakeout without stronger spot demand, as weak ETF flows and heavy overhead sell orders cap upside.
Source: AMBCrypto