HTX Analyst says Bitcoin spot buying is taking over; subsequent performance depends on ETF inflows and leverage levels

AT A GLANCE

Cloud stated that Bitcoin 1 gained approximately over the week 16%; the sustainability of the rebound depends on ETF inflows and leverage levels.

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Huobi HTX Chief Analyst Cloud: Bitcoin's rebound has seen spot buying take over; its sustainability depends on ETF inflows and leverage conditions

According to BlockBeats,September 23, Huobi HTX Chief Analyst Cloud stated that Bitcoin rebounded rapidly after bottoming amid the dual pressure of interest-rate hikes and setbacks to the CLARITY Act, 1 with a weekly gain of approximately 16%，September 21 and an intraday rise to 87,307 USD(Huobi HTX spot price), marking a new high since January. This rally was driven by forces: US spot Bitcoin ETF September 21 recorded net inflows of approximately 1000000000 USD in a single day, the largest single-day figure this year; 24 short liquidations totaled approximately 650000000 USD within hours; and falling oil prices cooled inflation expectations. Unlike last week's rebound, which was mainly driven by passive short covering, this week saw spot buying take over.

Whether the market can continue depends on factors: whether ETF inflows can shift from a one-day surge into a sustained trend, and whether leverage can remain at a non-overheated level. The current funding rate is approximately 0.01%, within the neutral range, but Bitcoin futures open interest has rebounded above 61000000000 USD. Once capital weakens, high leverage will amplify the pullback. Market sentiment has entered the extreme-greed zone, which historically is often a leading signal of a short-term market reversal. Technically, 87,500 USD is overhead resistance, while 84000 to 85000 USD forms the first support zone. The trend has the conditions to continue, but short-term volatility risk is also at its highest when sentiment is hottest.

Note: This content is not investment advice and does not constitute an offer, solicitation, or recommendation regarding any investment product.

Original link https://m.theblockbeats.info/flash/368567

Key points

Huobi HTX Chief Analyst Cloud stated that Bitcoin rapidly rebounded after bottoming, 1 with a weekly gain of approximately 16%。
Cloud said,September 21 Bitcoin rose intraday to 87,307 USD, which was the Huobi HTX spot price and marked a new high since January.
Cloud said that US spot Bitcoin ETF recorded September 21 net inflows of approximately 1000000000 USD in a single day, the largest single-day figure this year.
Cloud said, 24 short liquidations totaled approximately within hours 650000000 USD。
Cloud stated that the current funding rate is approximately 0.01%, within the neutral range; Bitcoin futures open interest has rebounded above 61000000000 USD.
Cloud's indicated technical levels are: 87,500 USD serves as overhead resistance, 84000 to 85000 USD constitutes the first support zone.
The original text notes that the content is not investment advice and does not constitute an offer, solicitation, or recommendation for any investment product.

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

This content considers the current rebound to be driven not only by forced short covering, but also by spot buying. Whether prices can continue rising will mainly depend on ETF whether capital continues to flow in and whether contract leverage becomes overheated.

Why it matters to readers

ETF Inflows reflect demand for funds, while leverage levels affect the magnitude of volatility; the original text states that if fund flows weaken, high leverage could amplify the pullback.

Beginners may view this as market commentary rather than a definitive forecast. The prices, capital flows, and technical levels cited are all from Cloud's analysis and should not be used as the sole basis for investment decisions.

Risks and unknowns

The data and market assessments in the text are Cloud's statements, and no independently verifiable data sources are provided.
The main text only states “September 23” and “September 21”, without specifying a year.
ETF Whether inflows can be sustained, leverage will become overheated, and the market trend can continue cannot be confirmed from the available content.
The specific measurement criteria for the “extreme greed range” and the “leading signal of a short-term trend reversal” are not explained.

HTX Analyst says Bitcoin spot buying is taking over; subsequent performance depends on ETF inflows and leverage levels

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