The US saw a net outflow of $351.69 million from Bitcoin spot ETFs in one day.
Bitcoin is currently trading around $86,000 after confirming a low of $85,000.
Ethereum's recovery to $2,940 has emerged as a key short-term concern.
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Bitcoin, which had fallen to $85,420 at one point the previous day, recovered some of its losses due to an influx of low-price buying, but continued its downward trend, trading around $86,000 as of 4 p.m. on the 16th.
The altcoin market also showed overall weakness. Ethereum (ETH) attempted a short-term rebound, trading around $2,940 after falling to $2,888 the previous day, but failed to recover the key resistance level of $3,000. Some small- and mid-cap altcoins showed limited technical rebounds, but the continued weakness of Bitcoin and the pressure on Tether dominance led to a distinct trend of price fluctuations across the market.
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◇ Rising Coins = As of 4:00 PM today, the coin with the largest increase on Upbit was ENSO, soaring 11.37% compared to the previous day. ENSO is a DeFi project that abstracts all on-chain operations through standardized actions and shared network states, replacing the complex structure that traditional DeFi applications require to individually integrate with each protocol.
◇ Fear and Greed Index = Alternative's Fear and Greed Index stood at 11 points, reaching the "Extreme Fear" level. Amidst deepening investor sentiment decline, investor sentiment remains conservative, and the potential for increased volatility exists.
◇ With RSI =RSl 33.9 and Stochastic 8.3, oversold signals are clear, leaving room for a short-term technical rebound.
Lee Jeong-seop ljs842910@blockstreet.co.kr
