#BITCOIN DAILY TF UPDATE:

#BITCOIN slipped below strong support, quietly and slowly moving lower. Price kept dipping lower and rejecting upward. Price was rejecting from the minor area, but the main thing is that it is now below the key support. Looking for the weekly close to happen, then anticipate the next week's move. We have #FOMC at the end of this month too, so build-up might start from here.

The rally is lifting altcoin holders out of deep losses. For the median altcoin, Percent Supply in Profit has risen from 3% in mid-August to 23%, the sharpest rise in over a year.

Most altcoin holders are still at a loss, far from the broad profits seen at the 2021 and 2024 peaks. A move of the median above half would show that the recovery has reached most holders.

🪙BTC 🪙ETH

On October 16, Bitcoin spot ETFs recorded a net outflow of $82.39 million, of which $71.78 million came from BlackRock’s IBIT.

Ethereum spot ETFs recorded a net outflow of $69.68 million—the third consecutive day—with the entire outflow coming from BlackRock’s ETH.