Spot Bitcoin ETFs lost 300 million dollars on November 11, then another 48 million on November 12. 📉
The Currency Analytics reports Bitcoin ETF outflows reached 300 million dollars on November 11, followed by 48 million dollars on November 12, continuing a withdrawal streak that already passed 2.5 billion dollars since October 30. 📰 Monthly spot demand has now contracted by 280,000 BTC while perpetual futures demand fell by 82,000 BTC, a total demand decline of 362,000 BTC in one month. My reading is that ETF buyers were the bid all year, and when they turn sellers for days in a row, there is no big buyer left to catch the fall until flows turn, so this is the number I watch before any long.
Do ETF flows turn positive this week, or does the outflow streak keep pressing price down? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #ETF
The Currency Analytics reports Bitcoin ETF outflows reached 300 million dollars on November 11, followed by 48 million dollars on November 12, continuing a withdrawal streak that already passed 2.5 billion dollars since October 30. 📰 Monthly spot demand has now contracted by 280,000 BTC while perpetual futures demand fell by 82,000 BTC, a total demand decline of 362,000 BTC in one month. My reading is that ETF buyers were the bid all year, and when they turn sellers for days in a row, there is no big buyer left to catch the fall until flows turn, so this is the number I watch before any long.
Do ETF flows turn positive this week, or does the outflow streak keep pressing price down? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #ETF
