Bitfinex: Bitcoin holds $81,300 as CPI and ETF flows set the next move
- —BTC dropped from $87,197 to $80,347 and recovered above $81,300
- —Roughly $1.18 billion in leveraged positions were liquidated on Oct. 8
- —Average spot Bitcoin ETF investor cost basis is $84,340, a resistance
- —A soft CPI could lift BTC past $84,500 toward a retest of $87,722
Why it matters: Bitcoin's next move hinges on US CPI and spot ETF inflows: a break above $84,500 opens $87,722, while losing $81,300 risks a slide to $77,400.
Source: PANews