Bitcoin faces potential selling pressure at $82,500 amid uneven ETF demand and upcoming Fed decision
Bitfinex analysis indicates that Bitcoin may face potential selling pressure around $82,500, with an estimated 874,000 BTC holders potentially looking to exit at that price point. These bitcoins were primarily accumulated in the $81,000 to $82,500 range. Despite US spot Bitcoin ETFs recording a net inflow of $110.3 million on October 26, entirely driven by BlackRock's IBIT, following two consecutive days of $773.5 million in net outflows, ETF demand remains uneven. Furthermore, the market is awaiting the Federal Reserve's interest rate decision, scheduled for release on October 28, which could impact investor sentiment for risk assets.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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