Analyst: Bitcoin's $84,000 floor is the line between correction and downtrend
- —BTC fell about 6% from $86,700 on Oct. 2 to $81,600
- —Structure gauge dropped from 0.37 to -0.32, still in neutral territory
- —Futures demand gauge has stayed below 50 since Oct. 17, hitting 46 on Oct. 19
- —A break of $84,000 with the gauge under -0.5 would signal a downtrend
Why it matters: The $84,000 level is the key pivot: losing it could accelerate selling, while a move back above 50 in futures demand would revive buyers.
Source: Bloomingbit