US spot Bitcoin ETFs lost another $201M on Monday, and BlackRock's IBIT has now bled for seven straight sessions 📉
IBIT saw $213M of outflows on Nov 9, bringing its total redemptions since Oct 30 to about $1.66B. Friday's net outflow across all US spot Bitcoin ETFs was $412M, so Monday's was slower, but the direction hasn't changed. Spot Ether ETFs also lost roughly $185M, their biggest day since early October.
BTC is ~$73.3K, near a 10-week low, so the ETF bid that carried the market earlier this year is currently going the other way.
Do you read slowing outflows as selling exhaustion, or just the same trend in smaller size?
Source: https://tradeassi.com/en/news/6da5e2be-e661-42e8-8b54-e2495b879f84
#BTC #ETF #BlackRock #Crypto
IBIT saw $213M of outflows on Nov 9, bringing its total redemptions since Oct 30 to about $1.66B. Friday's net outflow across all US spot Bitcoin ETFs was $412M, so Monday's was slower, but the direction hasn't changed. Spot Ether ETFs also lost roughly $185M, their biggest day since early October.
BTC is ~$73.3K, near a 10-week low, so the ETF bid that carried the market earlier this year is currently going the other way.
Do you read slowing outflows as selling exhaustion, or just the same trend in smaller size?
Source: https://tradeassi.com/en/news/6da5e2be-e661-42e8-8b54-e2495b879f84
#BTC #ETF #BlackRock #Crypto