Bitcoin ETFs saw large redemptions on the first full trading day after the event. U.S. spot BTC ETFs recorded net outflows of $643.2 million on October 30, their largest single-day outflow in October, wiping out the $441 million in net inflows from the previous four days; total net outflows for October reached $516 million (Decrypt ETF Tracker, November 1). ETH ETFs saw $155.7 million in outflows the same day, bringing their five-day cumulative outflows to $431 million.

ETF flows are a high-frequency indicator of incremental demand, but a single day of outflows is not enough to prove a trend. Binance snapshot at 05:06 on November 2: BTC at $77,940.16 (+0.578%), with a 24-hour range of $77,456–$78,285. If it closes above $78,285 on the 4-hour chart and holds above $77,800 on a retest, consider a long position, targeting $79,000 and $79,811, with a stop-loss at $77,300; if it breaks below $77,456 and fails to reclaim it on a rebound, watch $76,400 and $75,500, with a stop-loss at $78,300.

In my view: If ETF outflows narrow to below $200 million on the next trading day and BTC holds above 77,456, selling pressure may ease; if outflows of more than $500 million reappear and BTC falls below 76,400, risk appetite will continue to weaken. One-day data should not be extrapolated directly. Do you think ETF buyers have already turned around?

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The above content does not constitute investment advice