Bitcoin Sinks Again Despite $1 Billion ETF Inflows

Bitcoin briefly approached 84,800 dollars on Wednesday before erasing almost all of its gains. BTC was trading around 82,800 dollars on Thursday, just above the closely watched 82,500 dollar support. The reversal is not only due to concerns about artificial intelligence. The war with Iran keeps oil at high levels, while US inflation remains at 3.7% and the Fed meets on October 28. Meanwhile, Bitcoin ETFs have nevertheless attracted more than one billion dollars in three sessions. Wednesday’s move had started well. Bitcoin surpassed $84,000, then approached $85,000. This area has blocked the market for several sessions. A few hours later, bitcoin returned to around $82,800. The situation is reminiscent of what was seen earlier in October when oil and tensions with Iran had already pushed Bitcoin below $83,000 .

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