BTC bounced back from $87.3K this week. Then September’s PMI hit: 58.4 — the highest in 5 years. 10Y yields above 5%, Fed hawkish, $444M in long liquidations in 24h. And yet: US spot ETFs saw inflows of $999M + $714.7M — $1.71B over two days.

• $84,000-$85,000 = the decision zone. LTH supply is concentrated there. Above = path toward $96.7K (average MVRV). Below = $77K.

• No massive profit taking: $5.1B in net profits over 7 days, but still well below the 2024/2025 peaks. The market isn’t at the top.

• Altcoins: 72.5% outperformed BTC last week. Open interest barely rose = spot buying, no leverage.

Fear & Greed is at 71 (Greed). A zone where institutional flow sets the price without the crowd’s euphoria.

QUESTION FOR YOU: Does $84K hold as support after $444M liquidated, or does the break open the way to $77K?

Follow for the 25/09 analysis — 10Y yield, ETF flows, gamma $95K.

Tags : $BTC #CryptoAnalysis #FearGreedIndex