Bitcoin was trading around $80,400 on Thursday morning after falling to $75,618 on Tuesday evening and then reaching $81,180 overnight. Its move above $80,000 triggered the liquidation of $269 million in short positions within an hour and pushed the Fear and Greed Index to 50, a neutral reading. Strategy’s STRC returned to its $100 par value, potentially allowing the company to stop repurchasing shares, issue new ones and accumulate more bitcoin. Wall Street also supported the market, with the Dow Jones gaining about 3%, while lower US Treasury yields, oil prices and the dollar created a favorable environment despite $399 million in outflows from spot bitcoin ETFs on November 2. Investors are awaiting the ETF flows, Strategy’s weekly bitcoin purchases and the results of Polygon’s hard fork to recover POL tokens stolen from Binance.
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