Bitcoin entered October trading 9% higher than its price on the day of the Federal Reserve rate hike. Historically, October has shown positive performance in 10 of the last 15 years, with a median gain of 11.2%.
Spot Bitcoin ETFs recorded inflows for seven consecutive sessions starting September 17, totaling $2.98 billion. However, daily inflows have slowed, dropping to $134.47 million on September 25 from a peak of $998.95 million on September 21.
Long-term holders have been accumulating assets since August 31. The Hodler Net Position Change metric rose from 16,415 BTC on September 25 to 23,172 BTC on September 27, indicating that long-term investors are buying during the current market pause.
Liquidation data on Binance reveals a significant risk for long positions. Leveraged bets totaling $4.35 billion are at risk if the price drops toward $74,170. In contrast, short positions in the 30-day window amount to $1.65 billion.
Technical indicators show Bitcoin trading within a falling channel since January 13. The 50-period EMA at $74,117 is nearing a bullish cross with the 100-period EMA at $74,312. Key resistance levels are identified at $87,360 and $115,094.
