Rising Bitcoin ETF outflows and liquidations signal short-term caution, but a weak DXY and the eventual appointment of a new Fed chair could resume the rally.
Key takeaways:
Bitcoin (BTC) stagnated near $80,000 on Friday following a rejection at $82,500. Traders grew anxious after US-listed spot Bitcoin exchange-traded funds (ETFs) posted $268 million in net outflows on Thursday.
Meanwhile, $270 million in leveraged bullish Bitcoin futures positions were liquidated within 24 hours, forcing investors to evaluate whether a sustained bear market is finally taking hold.
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