Bitcoin struggles near $83K as analysts eye a possible October bottom
- —71.04% of Bitcoin supply is in profit, 28.96% in loss, per Benjamin Cowen
- —Coinbase Premium Gap fell to -$107, signaling weak U.S. institutional demand
- —169,781 traders were liquidated in 24 hours for a total of $811.79 million
- —BTC ETFs recorded $65.4 million in outflows on October 12
Why it matters: If ETF inflows and U.S. spot demand recover, the current correction could mark a turning point ahead of the midterm elections.
Source: AMBCrypto