Bitcoin must remain above $75,500 to preserve the bullish structure established since its summer lows, according to Jesse Marre, senior portfolio manager at Hilbert Group. After five consecutive daily declines and a 5.4% weekly loss, the cryptocurrency is testing immediate support between $78,500 and $79,500, while a sustained break below $75,500 could send it back toward its previous lows. US spot Bitcoin ETFs nevertheless recorded $442 million in net weekly inflows despite $635 million in withdrawals on Thursday. Marre attributes the weakness to tighter liquidity, rising oil prices and selling related to artificial intelligence valuations, and expects the Federal Reserve to leave interest rates unchanged on October 28 while maintaining a hawkish message.
Source: Read the original article
