BIT Official: Institutional Fund Flow Shifts, Bitcoin's Key Support Level Faces Test
On June 3, BIT Official released a daily chart analysis stating that institutional fund flow is shifting, and Bitcoin's key support level is facing a test. Over the past four years, a notable feature of Bitcoin has been that most of its gains occur in a short period of rapid increases, followed by a prolonged phase of sideways consolidation. The correction phase also exhibits a similar pattern, where prices typically drop quickly at first, releasing most of the downward pressure in one go, and then gradually stabilize. This round of correction is mainly influenced by two factors: first, the U.S. April CPI released in May exceeded expectations; second, there are concerns in the market regarding Strategy (formerly MicroStrategy) selling Bitcoin and the subsequent potential selling pressure. As a result, the spot Bitcoin ETF quickly shifted from net buying to significant net selling, with a cumulative net sell of about $1.5 billion this year, creating noticeable pressure on the market. Currently, Bitcoin remains under correction pressure, with $63,445 being a key support level to watch. Whether this level can hold will impact the market's judgment on the depth of this adjustment: if prices stabilize around this area, the current correction may still be considered a phase adjustment; if it effectively breaks below, it may enter a deeper adjustment and consolidation.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
CleanTech Lithium expands foothold in Argentina
BUZZ-Better Home & Finance shares rise after announcing a $30 million stock buyback plan
October 8 - Better Home & Finance (BETR.O), a mortgage and home equity financing company, saw its stock price rise 3.8% to $10.30 in pre-market trading after announcing a share repurchase plan. BETR stated that its board of directors has approved a stock buyback program of up to $30 million, with an initial phase of $10 million to kick off the repurchase. The company plans to adjust the pace of the repurchase based on realized operational cost savings and asset disposal progress, such as the proposed sale of its UK bank subsidiary. The buyback program is set to expire on October 8, 2027. In August, BETR forecasted that its Q3 revenue would be below Wall Street expectations as it focuses on partnership opportunities and accelerating the development of its home equity credit business. As of the previous trading day's close, the company's market capitalization was approximately $175 million. As of Wednesday, the stock has dropped about 70% year-to-date. According to LSEG data, seven out of eight analysts rate the stock as "strong buy" or "buy," with one rating it as "hold"; the median target price is $25. (For the convenience of non-English speakers, Reuters provides translated automated reports in several other languages. As automated translations may contain errors or lack required context, Reuters does not guarantee the accuracy of these texts and provides them simply for convenience. Reuters accepts no liability for any damage or loss arising from the use of automated translation.)
Fed Governor Waller leaves room for hawkishness: More rate hikes are needed to support inflation decline, not necessarily on a monthly basis.
Federal Reserve Governor Waller stated that if the data meets expectations, there will be further interest rate hikes. The core PCE year-on-year rate at 3% is still too high, and the recent monetary policy focus remains on fighting inflation.
Updated: Viatris will acquire pain therapy manufacturer Pacira BioSciences for 1.65 billions dollars.
The second paragraph adds stock information, while the fifth, eighth, and ninth paragraphs provide additional details. Background information is supplemented in the sixth, seventh, tenth, and eleventh paragraphs. Reuters, October 8 – Pharmaceutical company Viatris (VTRS.O) will acquire Pacira BioSciences (PCRX.O) in an all-cash deal worth $1.65 billions, adding two non-opioid painkillers to its portfolio, the companies said on Thursday. Viatris will acquire Pacira at $36.50 per share, representing a 44.8% premium to the latest closing price. Pacira’s stock rose by 44% in premarket trading. Pacira’s non-opioid painkillers, Exparel and Zilretta, generated sales in 2025 of $575.1 millions and $116.6 millions respectively. Exparel is used to relieve acute pain after surgery, and Zilretta is used to treat pain associated with knee osteoarthritis. Viatris stated it expects to expand the reach of these products in selected target markets. Viatris CEO Scott Smith stated, “the addition of these medications creates a synergy with our rapid-acting meloxicam market opportunities, positioning us as a leader in non-opioid pain management.” The US Food and Drug Administration (FDA) is expected to make a decision by December 27 on the approval application for rapid-acting meloxicam for the treatment of moderate to severe acute pain. Viatris plans to finance the acquisition primarily with idle cash, and the remainder through short-term borrowing. The company noted the deal will have minimal impact on its total leverage ratio. In August, Viatris (link) raised its annual adjusted profit forecast, counting on strong brand drug sales and growth in the Chinese market. The pharmaceutical company had previously faced (link) production setbacks in its Indian operations, including a fire at its Nashik plant in western India and increased competition in the generic drug market, raising concerns about the resilience and growth of its core business. The company stated the transaction is expected to close by the end of 2026 and will immediately enhance Viatris’s financial guidance metrics. (For non-native English speakers, Reuters provides automated translations of its reports into several other languages. Since automated translations may contain errors or lack necessary context, Reuters does not guarantee their accuracy and provides them for convenience only. Reuters accepts no liability for any damage or loss caused by the use of automated translation.)
Crypto prices
More
