Markets· ★★★· bearish·

Glassnode: Bitcoin may test $81,000 as largest buy orders sit there

  • —Combined spot and ETF volume averaged $6.8B over 7 days, lower in 9 of 10 days since January 2024
  • —Coinbase Premium has stayed below zero since early September, now at -0.056
  • —New capital inflows totaled $4.9B in the 30 days to October 5 versus a $12.8B rise in realized cap
  • —Net BTC outflow from exchanges hit 24,073 coins on October 5, the largest since March 1
Why it matters: Holding $81,000 will determine whether the correction deepens; a close above $85,500 would reclaim the lost level, with CPI on October 14 as the next macro test.
#BTC
Source: BeInCrypto PL
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