Bitcoin ETF outflows just slowed sharply. Only 47.7 million dollars left on 12 November, against a 211 million daily average. đ
DefiLlama data reported by Coinjuice shows US spot Bitcoin ETFs lost 47.7 million dollars on 12 November, far below the five day average of 211.1 million dollars per reporting date, with IBIT flat at zero, ARKB down 18.5 million and BITB down 26.4 million. đ The seven day total is still a heavy 1,055.4 million dollars of outflows, so one lighter day is not a reversal, but the selling did slow exactly when Bitcoin fell below 70,000 dollars, which is when weak hands usually panic hardest. My reading is that the sellers are getting tired, because five straight days of heavy selling followed by a much smaller day often marks the point where the supply starts to dry up.
Is the ETF selling finally tiring out, or is this just a pause before more outflows? đ€
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#Crypto #Bitcoin #FuturesTrading #TradingSignals #ETF
DefiLlama data reported by Coinjuice shows US spot Bitcoin ETFs lost 47.7 million dollars on 12 November, far below the five day average of 211.1 million dollars per reporting date, with IBIT flat at zero, ARKB down 18.5 million and BITB down 26.4 million. đ The seven day total is still a heavy 1,055.4 million dollars of outflows, so one lighter day is not a reversal, but the selling did slow exactly when Bitcoin fell below 70,000 dollars, which is when weak hands usually panic hardest. My reading is that the sellers are getting tired, because five straight days of heavy selling followed by a much smaller day often marks the point where the supply starts to dry up.
Is the ETF selling finally tiring out, or is this just a pause before more outflows? đ€
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #ETF
