Bitcoin has crossed the $85,000 threshold amidst an “Uptober” market frenzy. Historical data shows Q4 is typically Bitcoin’s strongest quarter, with an average quarterly ROI exceeding 70%. However, U.S. spot Bitcoin ETFs recorded $148.7 million in net outflows on Wednesday, ending a nine-day inflow streak, with Fidelity leading exits at $125.6 million. Additionally, $136.72 million in BTC spot sell orders are stacked between $89K-$109K on Coinbase, creating potential resistance. The divergence between bullish futures positioning and weak spot demand undermines the sustainability of the $85K breakout.
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