Key facts: BTCUSD $110M Short Squeeze; Q3 ETFs $6.34B Inflows
BTCUSD spot ETFs saw $6.34B net inflows in Q3 (Jul–Sep), with July $172M, Aug $3.52B, Sep $2.65B; cumulative 2024 inflows >$57B, AUM >$100B; nine-day inflow streak ended Sept.30.On Oct 2 a ten‑minute BTCUSD spike triggered about $110M in short liquidations, seen as a short squeeze; no confirmed news catalyst; US spot Bitcoin ETFs had inflows.BTCUSD jumped as heavy short liquidations on centralized exchanges forced leveraged closures, boosting volatility and accelerating the rally in a short timeframe.BTCUSD faces resistance around $85,000–$85,500 on Binance. Intraday supports: short-term holder cost basis $73,300 and True Market Mean $77,200. Daily close below TMM may end the bullish run.Citi raised its 12‑month BTCUSD spot CFD ETF inflow estimate to ~$5B, citing increased adviser and brokerage Bitcoin exposure; prior June 2023 forecast had cut inflows to zero and price target.BTCUSD: Analysts link ETF inflows to price moving above key moving averages; 50-day crossing above 200-day noted, prompting a revised bullish stance by the bank.CryptoQuant: large Bitcoin holders boosted allocations; 30-day stablecoin inflows to Binance from >$1M wallets rose ~40% in the past month (BTCUSD, Spot CFD).Buyers cleared the $85,000 sell wall in BTCUSD spot CFD, removing that resistance and reducing sell-side liquidity above current prices, per Glassnode.Corporate buyers added 4,603 BTC (~$369.7M) in late August, lifting corporate holdings to 847,666 BTC by Sept 27; ETFs and these purchases influenced BTCUSD spot CFD demand dynamics.BTCUSD: key resistance $87,000–$87,722; breakout could target mean-MVRV near $96,700 if ETF inflows accelerate; lack of strong flows raises reversal risk.This is an AI-generated summary and may contain inaccuracies. Please verify any important information with the original sources.