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Bitcoin is up 23% over the past week, fueled by strong ETF inflows after the Treasury announced plans to at least double its long-dated bond buybacks.
- Coinglass data shows 170,793 traders were liquidated in the past 24 hours for $1.37 billion.
- SoSoValue data shows net inflows of $606.3 million from spot Bitcoin ETFs on Thursday. Spot Ethereum ETFs saw net inflows of $220.8 million.
- In the past 24 hours, top gainers include Ethena, Bitcoin Cash and Pepe.
- Data Shows Bitcoin’s 20% 3-Day Rally Was Historic: Here’s What Happened After Comparable Rallies
- Bitcoin, Ethereum 20% Rallies Are Proof to ‘Never Short a Dull Market,’ Investment Firm Says
- Strategy Sits On $1.4 Billion Bitcoin Profit After 20% BTC Surge: What’s Next for MSTR?
- Bitcoin Taps $79,000, Up 20% Since Monday. So Why Should Bulls Be Careful?
- PURR Surges Above $10 as Analysts Tout Hyperliquid Outperformance
- Arthur Hayes Says ETH Can Hit $5,000 by Year-End, Risk-Reward Is Better Than for BTC
Michael van de Poppe compared Bitcoin to the 2022 breakout, with a strong weekly candle following consolidation and a sweep of the lows.
He expects a push toward $83,000 and the 50-week moving average, though resistance there could trigger a correction and profit-taking.
Trader KillaXBT said Bitcoin may have already bottomed, arguing the recent decline could have been the capitulation candle.
With Q4 sellers potentially front run after an early October peak, he expects Q4 buyers could also enter early, supporting a green next six-month candle.
Tony Edward highlighted Bitcoin is overbought with daily RSI above 70, raising the risk of a near-term pullback.
However, establishing support and securing a weekly close above the 200-day moving average could mark a major bullish shift and put bears under pressure.
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