Bitfinex: Bitcoin's Next Move Hinges on $84,000
- —Bitcoin tested $83,524, close to the October 1 low of $83,218
- —24-hour liquidations reached $510.6 million, with $417.6 million in longs
- —1.72 million BTC (8.6% of supply) was acquired between $84,000 and $86,500
- —ETF inflows slowed to $35 million per day from $341.7 million in mid-September
Why it matters: Holding $84,000 could trigger a short squeeze toward $87,722, while a breakdown opens the way to $81,300 given thin support.
Source: Bitfinex Blog