Bitcoin kicks off new quarter in the old $82,000-$85,000 price range — SkimNews
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- Bitcoin opened the new quarter stuck in the $82,000-$85,000 range, briefly topping $85,000 on Wednesday after weaker-than-expected U.S. inflation cooled Fed rate-hike bets before bulls gave back gains.
- U.S.-listed spot Bitcoin ETFs registered a $148.7 million net outflow on Wednesday, ending a nine-day inflow streak that pulled in $3.08 billion — the biggest dollar-denominated streak of the year — with the streak's daily pace already shrinking since peaking near $1 billion on Sept. 21.
- Bitfinex analysts said the Absorption-to-Emission Ratio (BAER) compressed from 25.6x on Sept. 21 to 1.8x on Sept. 29, meaning clearing the 1.39 million BTC of breakeven supply sitting between $84,000 and $86,500 requires the ratio to recover toward 5.0x, or roughly $190 million in daily ETF inflows.
- Alex Kuptsikevich of FxPro warned that a persistent bond sell-off could trigger a cross-market rout, noting it's impossible to predict when markets shift from caution to panic even though past turmoil in traditional finance has sometimes benefited crypto.
- Stacks' STX token surged roughly 26% to $0.39 over 24 hours as founder Muneeb Ali was named CEO of Stacks Labs, with Midnight (NIGHT) up 23%, Ethena (ENA) up 11%, NEAR up 10%, and Quant (QNT) up 9%; Avalanche (AVAX) and ICP declined 5% and 4%.
- Bitcoin derivatives positioning showed open interest easing to $20.9 billion from $21.8 billion while funding held near 3% annualized; the 3-month annualized basis on Deribit steepened from under 5% to over 6%, and the 24-hour call/put ratio jumped to 83% in favor of calls.
Why it matters: The Bitfinex BAER metric collapsing from 25.6x to 1.8x in eight days means ETF demand has effectively flat-lined relative to miner supply — the roughly $190 million daily inflow pace needed to absorb the $84,000-$86,500 supply wall is about 100x current absorption levels and making any breakout past $85,000 harder to sustain without a fresh demand catalyst.
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