BTC took 6 hours to break above 84,000—and only 6 hours to give it all back
Last night, BTC pulled off something both impressive and ugly: it first broke above 84,000—a level that had rejected rallies twice, on October 13 and 14—and reached a high of 84,800. Then, within 6 hours, it gave back more than 2,000 points, falling to 82,600. It’s now hovering around 82,300.
The blame lies with U.S. stocks. Tesla fell 3% after hours and cut its capital expenditure outlook; chip equipment maker Lam Research plunged 7% on a weak forecast. Nasdaq 100 futures followed, down 1.1%, bringing back concerns about whether AI spending can keep burning cash. Even Meta’s 2% post-earnings gain couldn’t lift sentiment. Add escalating tensions in the Middle East and broad declines across Asian markets, and risk assets are all losing steam.
Spot ETFs have seen net inflows for three consecutive days this week, totaling about $1.1 billion ($527 million on Monday, the biggest single-day inflow in nearly a month), but prices paid no attention—the drop was purely sentiment-driven.
Key level: 82,500. If it holds, BTC could try for 84–84.5K again; if it breaks, the next levels to watch are 81.2K–80K. The half position I bought at 81,500 and added to at 80,800 is still in the green. I’ll hold as long as 80K holds, and won’t rush to add.
$BTC #BitcoinDropsBelow$84K
Last night, BTC pulled off something both impressive and ugly: it first broke above 84,000—a level that had rejected rallies twice, on October 13 and 14—and reached a high of 84,800. Then, within 6 hours, it gave back more than 2,000 points, falling to 82,600. It’s now hovering around 82,300.
The blame lies with U.S. stocks. Tesla fell 3% after hours and cut its capital expenditure outlook; chip equipment maker Lam Research plunged 7% on a weak forecast. Nasdaq 100 futures followed, down 1.1%, bringing back concerns about whether AI spending can keep burning cash. Even Meta’s 2% post-earnings gain couldn’t lift sentiment. Add escalating tensions in the Middle East and broad declines across Asian markets, and risk assets are all losing steam.
Spot ETFs have seen net inflows for three consecutive days this week, totaling about $1.1 billion ($527 million on Monday, the biggest single-day inflow in nearly a month), but prices paid no attention—the drop was purely sentiment-driven.
Key level: 82,500. If it holds, BTC could try for 84–84.5K again; if it breaks, the next levels to watch are 81.2K–80K. The half position I bought at 81,500 and added to at 80,800 is still in the green. I’ll hold as long as 80K holds, and won’t rush to add.
$BTC #BitcoinDropsBelow$84K