Bitcoin stuck in $80K–$85K range; breakout hinges on tech earnings and inflation
- —About 874,000 BTC were bought between $81,000 and $82,500; spot ETF investors' average cost is $81,500
- —Spot bitcoin ETFs saw outflows of $636 million on Oct. 22 and $138 million the next day
- —On Hyperliquid, 53.5% of large traders' $8.1 billion in positions are bets on further downside
- —A daily close above the 50-day EMA at $80,600 and a weekly close above $85,000 would confirm a reversal
Why it matters: The range is compressing: Microsoft, Alphabet and Amazon earnings, PCE inflation data and 10-year Treasury yields will set the next move.
Source: TokenPost