A Bitcoin costs $82,708 on Wednesday morning, or 73,652 euros. On Monday, $526.7 million flowed into the US spot ETFs, the strongest day since September, and yet October is still negative for those funds. Two lines frame the market until the Federal Reserve decides on rates on October 28: the 50-day moving average at $81,679 below, and the 20-day average at $83,117 above.
Overnight trading: the $81,273 low sat below the 50-day average
Between Tuesday morning and Wednesday morning the price moved between $81,273 and $83,249. That is a range of $1,976, or 2.39 percent measured against the current level. The night was therefore far livelier than the three days before it, which we covered on Tuesday.
Where the low sat matters more than the range itself. In our Tuesday morning piece, the 50-day average at $81,481 was the next level on the downside. That line has since risen to $81,679, an increase of $198. The overnight low of $81,273 sat $406 below it. The price broke the line and had worked its way back $1,029 above it by the morning.<...
English (US)