Bitcoin Closes Fourth Week Above 50-Week Average, but the Line Still Slopes Down
- —BTC closed above its 50-week MA for a fourth week, trading near $84,000 versus the ~$77,000 average
- —Spot Bitcoin ETFs posted $681 million in net outflows last week, the most since late June
- —Whales hold roughly 3 million BTC while exchange reserves remain low
- —Markets price about an 18% chance of a Fed rate hike in October
Why it matters: Holding above the 50-week average may point to a bottom, but without sustained ETF inflows and stronger spot demand, a breakout above $84,000 remains unconfirmed.
Source: CryptoPotato