U.S. spot Bitcoin ETFs saw another day of outflows on November 3 (based on publicly verifiable data, not an official tally): approximately $115.6 million in net outflows in total. IBIT led the way out with around $95 million in outflows; Grayscale’s BTC Mini saw about $52.6 million out; BITB brought in roughly $21.9 million and FBTC about $6.8 million, but that wasn’t enough to turn the overall total positive.
Monday’s roughly $400 million outflow has already been debated—no need to rehash the old numbers. Tonight, just adding Tuesday: outflows were smaller than Monday’s, but the money was still flowing out. The first two days of November came to around $514 million in net outflows. Bitcoin is currently around $78,200 and ETH near $2,320—the money hasn’t turned back yet, so don’t mistake “smaller outflows” for a bottoming signal.
The hexagram cast at the hour of the Dog was Lake over Wind, Great Exceeding: Lake above, Wind below, with the fifth yang line changing. In plain English, Great Exceeding means “the beam is under too much strain; don’t try to tough it out.” The fifth line speaks of a withered willow putting out flowers—something may look like it’s blooming, but don’t take it for a reversal. I’m more inclined to watch for two things first: whether sustained net inflows come in to turn the trend around, and whether the market truly finds its footing. Slowing outflows ≠ money has already returned.
What are you watching more closely: how many more days IBIT keeps bleeding, or when the overall total turns positive? Share your thoughts in the comments.
Follow me for updates.
$BTC $ETH
Personal opinion, not investment advice
Monday’s roughly $400 million outflow has already been debated—no need to rehash the old numbers. Tonight, just adding Tuesday: outflows were smaller than Monday’s, but the money was still flowing out. The first two days of November came to around $514 million in net outflows. Bitcoin is currently around $78,200 and ETH near $2,320—the money hasn’t turned back yet, so don’t mistake “smaller outflows” for a bottoming signal.
The hexagram cast at the hour of the Dog was Lake over Wind, Great Exceeding: Lake above, Wind below, with the fifth yang line changing. In plain English, Great Exceeding means “the beam is under too much strain; don’t try to tough it out.” The fifth line speaks of a withered willow putting out flowers—something may look like it’s blooming, but don’t take it for a reversal. I’m more inclined to watch for two things first: whether sustained net inflows come in to turn the trend around, and whether the market truly finds its footing. Slowing outflows ≠ money has already returned.
What are you watching more closely: how many more days IBIT keeps bleeding, or when the overall total turns positive? Share your thoughts in the comments.
Follow me for updates.
$BTC $ETH
Personal opinion, not investment advice
