Bitcoin drops 7.59% between Oct 5-8, rebounds to $82,800
- —Bitcoin fell 7.59% from Oct 5 to Oct 8, bottoming at $80,393
- —Exchanges saw 11,325 BTC in net outflows from Oct 7 to Oct 9
- —Stress index eased from a weekly peak of 49.9 to 7
- —Key levels to watch: $83,600 on the upside, $77,700 on the downside
Why it matters: Falling funding rates and open interest point to speculative capital leaving, and holding $80,700 will determine whether the rebound continues.
Source: Cointribune