Michael Saylor's 21 Rules Of Bitcoin -- May this prove to be the Bitcoin Testaments

Still, unbiased market follow can win.

Spot #Bitcoin ETFs have faced significant turmoil due to a persistent streak of outflows, continuing for seven days, with no new inflows throughout the week. This has heightened uncertainty in the Bitcoin community, especially as today's Bitcoin's price has dropped to $54,550, by 10:45am EST marking about a 5% decline over the past week and losing support around the $60,000 level. Major ETF providers like Grayscale, BlackRock, and Fidelity have reported substantial outflows, totaling $211 million on September 5, reflecting growing bearish sentiment among institutional investors. Despite Bitcoin spot ETFs having a total net asset value of about $50 billion since their inception in January, recent stagnation and negative market sentiment have contributed to increased volatility. Additionally, $39.53 million in Bitcoin liquidations over the past 24 hours, primarily from long positions, underscores the challenging market conditions and the dim outlook for a trend reversal in the near term.

This is an important week of economic data, with the Friday jobs report especially in focus. Economists polled by the Wall Street Journal expect the U.S. to have added 161,000 new jobs in August, up from 114,000 in July, and expect the U.S. unemployment rate to fall to 4.2%, from 4.3% in the previous month. Such data is important to watch, as it could determine the short-term direction of bitcoin’s price (#BTCUSD).

Narrow range, probably okay for a tinny profit when there's no commission charged. Otherwise not recommended to trade #BTC/USD at tight accumulation range but in high downward pressure. Bulls are quite supportive at lower range but bears are pressing hard at upper range. After the breakout, retest might trigger an upthrust. Yet to see.

Bitcoin momentarily hit $62k following Powell’s speech on economic outlook. Crosses $63k with RFK Jr. endorsing Trump after weeks of back-channel courtship.

Zoomed version

Trade (SELL) Signal @67540.70

Developing... BTCUSD 15m Trade