Bitcoin is trading back and forth around $75,000 today. On social media, on-chain analytics firm CryptoQuant offered its assessment: the price pulled back from above $80,000, mainly because U.S. tech and AI stocks were sold off at the same time. The real obstacle to a rebound is spot demand.
It cited three on-chain signals. On November 5, about 11,003 bitcoins flowed out of exchanges; the 60-day cumulative accumulation metric for wallets holding more than 10,000 bitcoins turned positive; and, over the same period, retail investors transferred noticeably more bitcoin to exchanges. The first two point to buying support, while the third points to selling pressure.
Fund flows offered another set of figures on the same day. U.S. spot bitcoin ETFs saw net outflows of 4,832 bitcoins, worth about $367 million; outflows over the past seven days totaled 19,343 bitcoins, or about $1.47 billion. Ethereum ETFs saw daily net outflows of 25,590 ether, worth about $57.31 million.
The firm identified the $73,000–$76,000 range as one that needs to hold, and noted that stablecoin liquidity has yet to recover.
Bitcoin is currently trading at $75,488, down 5.08% over the past 24 hours.
$BTC $ETH #比特币 #ETF
It cited three on-chain signals. On November 5, about 11,003 bitcoins flowed out of exchanges; the 60-day cumulative accumulation metric for wallets holding more than 10,000 bitcoins turned positive; and, over the same period, retail investors transferred noticeably more bitcoin to exchanges. The first two point to buying support, while the third points to selling pressure.
Fund flows offered another set of figures on the same day. U.S. spot bitcoin ETFs saw net outflows of 4,832 bitcoins, worth about $367 million; outflows over the past seven days totaled 19,343 bitcoins, or about $1.47 billion. Ethereum ETFs saw daily net outflows of 25,590 ether, worth about $57.31 million.
The firm identified the $73,000–$76,000 range as one that needs to hold, and noted that stablecoin liquidity has yet to recover.
Bitcoin is currently trading at $75,488, down 5.08% over the past 24 hours.
$BTC $ETH #比特币 #ETF
