$430 million flowed out of ETFs, but Bitcoin held steady at $76,000.
On Thursday, U.S. spot Bitcoin ETFs saw net outflows of $430.2 million. Fidelity’s FBTC alone saw $199.9 million flow out, while BlackRock’s IBIT saw $105 million in outflows. Including Ethereum, total outflows on November 5 came to about $530 million.
But the price didn’t collapse: $BTC is currently at $76,090, up just 0.04% over 24 hours, while holding above the 24-hour low of $74,888. On Thursday, it briefly fell below $75,000 before climbing back.
ETFs are selling, while spot buyers are holding the line—the opposing forces are meeting right around $76,000. The 200-day moving average sits below at $73,239; a move back above $80,000 would be needed to signal a stronger trend.
The next thing to watch: Will ETF outflows continue ahead of next week’s CPI report? If they do, the $74,888 low will face another test. This is not investment advice.
On Thursday, U.S. spot Bitcoin ETFs saw net outflows of $430.2 million. Fidelity’s FBTC alone saw $199.9 million flow out, while BlackRock’s IBIT saw $105 million in outflows. Including Ethereum, total outflows on November 5 came to about $530 million.
But the price didn’t collapse: $BTC is currently at $76,090, up just 0.04% over 24 hours, while holding above the 24-hour low of $74,888. On Thursday, it briefly fell below $75,000 before climbing back.
ETFs are selling, while spot buyers are holding the line—the opposing forces are meeting right around $76,000. The 200-day moving average sits below at $73,239; a move back above $80,000 would be needed to signal a stronger trend.
The next thing to watch: Will ETF outflows continue ahead of next week’s CPI report? If they do, the $74,888 low will face another test. This is not investment advice.
