Markets· ★★★· neutral·

Bitcoin has found support but no breakout as macro pressure caps gains, analysts say

  • —Bitcoin trades near $83,400 after dipping to $81,000, with resistance in the mid-$80,000s
  • —10-year US Treasury yield sits near 5.2% while Brent crude trades above $106 a barrel
  • —Spot and futures volumes in the first five days of October ran 12% and 19% below September averages
  • —US spot Bitcoin ETFs drew about $3.08 billion over nine straight sessions from Sept 17 to Sept 29
Why it matters: Without renewed ETF demand and a pickup in volumes, Bitcoin risks staying range-bound rather than staging a sustained breakout.
Source: Invezz