Bitcoin faces uncertainty surrounding the Federal Reserve and PCE data, while on-chain indicators suggest a possible floor near $80,000. After falling below $80,000, the asset could retest $75,000 if the Fed delivers hawkish signals, especially with inflation reaching 3.7% in September. However, $774 million in outflows from US spot ETFs on October 22 and 23 show that demand must recover to support a rebound. The decline in the proportion of short-term holders in profit, from almost 100% in late September to around 70%, and the historical weakness of the Coinbase Bitcoin Premium indicate easing selling pressure that could support a post-election recovery.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
