Blogger Coin22: bitcoin's rise to $78,000 is a bounce within a correction, not a reversal
- —The Fed raised rates by 25 bps unanimously, with 16 of 18 members expecting at least one more hike by year-end
- —Bitcoin futures open interest is about $52 billion, with derivatives volume 14 times spot
- —On September 15, outflows from U.S. spot bitcoin ETFs totaled about $450 million
- —The largest options interest cluster for the September 25 expiry is about 186,000 BTC, with maximum pressure at $72,000
Why it matters: If bitcoin settles below $75,000, a chain reaction of liquidations and a move to $72,000–70,000 is likely; a reversal would require ETF inflows and a shift in the macro backdrop.
Source: BeInCrypto RU