Bitcoin kicks off new quarter in the old $82,000-$85,000 price range
Summary
Bitcoin remained range-bound between $82,000 and $85,000 despite briefly rising above $85,000 after softer U.S. inflation data. U.S. spot bitcoin ETFs recorded $148.7 million in outflows Wednesday, ending a nine-day streak that had brought in $3.08 billion. Bitfinex analysts said ETF buying needs to strengthen to absorb selling pressure near $84,000–$86,500; their absorption-to-emission ratio fell from 25.6x to 1.8x. An analyst also warned that continued bond-market weakness could spill over into broader markets. Some altcoins rose, led by STX, up 25% in 24 hours, while most crypto indexes were little changed or slightly lower.
