Wintermute says Bitcoin has fallen for 3 consecutive weeks, with FOMC possibly determining the breakout direction
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Wintermute says Bitcoin has declined consecutively for 3 weeks and repeatedly tested 80000 USD，FOMC meeting may affect the breakout direction.
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Wintermute: Bitcoin declines consecutively 3 for weeks and tests 80000 USD，FOMC The meeting may determine the breakout direction
PANews October 27 reported that Wintermute, in its October 26 market update, pointed out that Bitcoin fell for a third consecutive week, with a weekly decline of 2.43%, falling below 82500 USD, and tested 80000 USD for the third time. U.S. spot Bitcoin ETF saw outflows on Thursday of 636000000 USD, the largest single-day outflow since June, while the Nasdaq fell by 2.6%Brent crude rose by 5.66%to 116.72 USD, with the oil market replacing AI financing as the market’s primary concern. Wintermute said that Bitcoin had traded within 3 weeks in a range of 80000 to 82500 USD; Wednesday’s FOMC meeting will very likely determine the breakout direction. If 80000 USD breaks down, the next support is 76000 USD; if 76000 USD also breaks down, it could fall to just above 70000 USD Bitcoin has recently moved in tandem with AI and broader...
PANews reported that Wintermute, in its October 26 market update, pointed out that Bitcoin fell for a third consecutive week, with a weekly decline of 2.43%。
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The report showed that Bitcoin fell below 82500 USD, and tested 80000 USD。
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U.S. spot Bitcoin ETF saw outflows on Thursday of 636000000 USD, which the report described as the largest single-day outflow since June.
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The Nasdaq fell by 2.6%。
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The report said Brent crude rose by 5.66%to 116.72 USD。
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Wintermute said Bitcoin had traded within 3 weeks in a range of 80000 to 82500 USD; Wednesday’s FOMC meeting will very likely determine the breakout direction.
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Wintermute assessed that if 80000 USD breaks down, the next support is 76000 USD; if 76000 USD also breaks down, it could fall to just above 70000 USD.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Bitcoin’s recent price weakness means that 80000 USD is regarded by Wintermute as an important level to watch. A “support” level is an area where the market expects buying to potentially absorb selling pressure; it does not guarantee that the price will stop falling. The 76000 USD and 70000 USD just above are scenario forecasts proposed by Wintermute.
Why it matters to readers
The report also mentioned Bitcoin ETF outflows, a decline in the Nasdaq, and rising oil prices, indicating volatility in both risk assets and external markets;FOMC meeting was regarded by Wintermute as an event that could affect Bitcoin’s next direction.
Beginners should focus on observing whether Bitcoin can hold 80000 USD、ETF whether fund flows continue to move out, and FOMC how the market changes after the meeting; forecast price levels should not be treated as certain outcomes.
Risks and unknowns
The original text is a retelling by PANews of Wintermute’s market update; the data has not been independently verified.
FOMC Whether the meeting will determine Bitcoin’s breakout direction remains Wintermute’s assessment.
80000 USD、76000 USD and 70000 USD just above are forecast scenarios, not results that have already occurred.
The evidence text is truncated at the end, so the complete statement concerning Bitcoin’s recent correlation cannot be confirmed.
The evidence’s October 26、October 27 and “Wednesday” and “Thursday” do not specify a year.
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Related concepts
Support level
An area where a price decline may stop or trigger a reaction.
