Bitfinex: Bitcoin breaks below range, needs real demand to reclaim $77,100
- —Bitcoin closed at $75,702, down 3.2% on the day
- —US spot Bitcoin ETFs saw $450.4 million in daily outflows
- —Inflows to exchanges from coins younger than 155 days rose from 19,400 to 33,100 BTC
- —Strategy has not bought BTC for a second straight week; the average price of its 845,050 coins is $75,412
Why it matters: The range breakdown ahead of the Fed decision raises the risk of a drop to $73,500, while a return to $77,100 would require genuine demand rather than just short covering.
Source: PANews