Bitcoin trapped in $80,000–$88,000 range ahead of US midterms
- —US CPI accelerated to 3.7% from 3.4%, while PPI jumped 1.3% on the month, the largest rise since March 2022
- —US spot Bitcoin ETFs saw a net $859 million outflow over six sessions from Oct. 7 to Oct. 14
- —Aggregate ETF cost basis sits near $81,500; the six-to-12-month cohort's basis is around $88,000
- —Bitcoin futures open interest fell 6% over the week, with modeled liquidation levels down more than 20%
Why it matters: The $80,000–$88,000 box defines where supply and demand concentrate; a clean break either way sets direction into the Nov. 3 midterms.
Source: Cryptonews.net