Friday was the worst ETF day since June, and the details explain why traders are cautious. 📰
US spot Bitcoin ETFs recorded 643.3 million dollars in net outflows on Friday, the biggest single day exodus since June 25, according to SoSoValue data reported by CoinDesk on 2 November. BlackRock IBIT led with 233.7 million dollars out, followed by Fidelity FBTC with 201.4 million dollars out, and total ETF assets fell below 100 billion dollars to 98.14 billion dollars. 📊 My reading is that this was concentrated month end selling, not a slow retail exit, because three funds carried almost 88 percent of the day, yet the size still matters, since ETF demand has been the clearest institutional gauge all year.
Do ETF buyers return this week, or does Friday set the tone for November? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BitcoinETF
US spot Bitcoin ETFs recorded 643.3 million dollars in net outflows on Friday, the biggest single day exodus since June 25, according to SoSoValue data reported by CoinDesk on 2 November. BlackRock IBIT led with 233.7 million dollars out, followed by Fidelity FBTC with 201.4 million dollars out, and total ETF assets fell below 100 billion dollars to 98.14 billion dollars. 📊 My reading is that this was concentrated month end selling, not a slow retail exit, because three funds carried almost 88 percent of the day, yet the size still matters, since ETF demand has been the clearest institutional gauge all year.
Do ETF buyers return this week, or does Friday set the tone for November? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BitcoinETF
