Good morning, team!
Wall Street gave crypto a pretty friendly setup yesterday. The Nasdaq closed at another record, oil slipped toward $100, and expectations for another Fed hike in October have fallen to roughly 24%.
Yet BTC is still hovering around the $86K area with almost no daily progress.
That divergence is what interests me most. Risk appetite is clearly alive in equities, but Bitcoin is not participating in the same move.
There are two obvious brakes. Treasury yields remain extremely high, with the 10-year around 5.3%, while spot Bitcoin ETFs recorded another $89.8M in net outflows on Monday.
So the backdrop looks better on the surface, but crypto demand is still not strong enough to produce a clean breakout.
For now, $85K remains the support I care about. Reclaim $86.5K and buyers can make another run toward $87.5K–$88K.
If BTC starts losing $85K while tech stocks keep printing records, that relative weakness becomes much harder to ignore.
PROtrading ☄️