$412 million ran for the exits again, yet Bitcoin is still holding above $76,000—the ETF money is flowing out, but the price isn’t following. That’s the divergence worth watching most this weekend.
U.S. spot Bitcoin ETFs saw $412 million in net outflows on Friday, with BlackRock’s IBIT alone accounting for $403 million. Fidelity’s FBTC was the only fund to see inflows, bringing in $42.8 million for the day. Add Thursday’s $430 million, and the two-day total comes to $842 million in outflows. In the first five trading days of November, ETFs have already seen $1.28 billion in net outflows. Ethereum fared no better: $93.3 million flowed out on Friday, bringing its five-day total to $365 million.
But prices haven’t followed suit: Bitcoin closed around $75,800 on Friday and is trading at about $76,000 on Saturday. It has held above $75,600, and the 50-week moving average at $75,559 hasn’t been breached either.
My take: This isn’t institutions buying the dip; spot buyers are absorbing ETF redemptions. Selling pressure is being digested, but the process isn’t over—the Fear and Greed Index at 25, signaling extreme fear, is proof. Invalidation level: if ETFs see more than $300 million in net outflows again on Monday and Bitcoin closes the day below $75,600, the dip-buying narrative is invalidated, with $73,000 next. Conversely, if ETF flows turn positive and Bitcoin reclaims $77,700, this week was just a shakeout.
Do you think ETFs will keep seeing outflows next Monday and push Bitcoin below $75,600, or will flows finally turn positive and help Bitcoin reclaim $77,700?
$BTC $ETH
#BitcoinETFsSee$412MNetOutflows #BitcoinRebounds$75KAsChipsLead
U.S. spot Bitcoin ETFs saw $412 million in net outflows on Friday, with BlackRock’s IBIT alone accounting for $403 million. Fidelity’s FBTC was the only fund to see inflows, bringing in $42.8 million for the day. Add Thursday’s $430 million, and the two-day total comes to $842 million in outflows. In the first five trading days of November, ETFs have already seen $1.28 billion in net outflows. Ethereum fared no better: $93.3 million flowed out on Friday, bringing its five-day total to $365 million.
But prices haven’t followed suit: Bitcoin closed around $75,800 on Friday and is trading at about $76,000 on Saturday. It has held above $75,600, and the 50-week moving average at $75,559 hasn’t been breached either.
My take: This isn’t institutions buying the dip; spot buyers are absorbing ETF redemptions. Selling pressure is being digested, but the process isn’t over—the Fear and Greed Index at 25, signaling extreme fear, is proof. Invalidation level: if ETFs see more than $300 million in net outflows again on Monday and Bitcoin closes the day below $75,600, the dip-buying narrative is invalidated, with $73,000 next. Conversely, if ETF flows turn positive and Bitcoin reclaims $77,700, this week was just a shakeout.
Do you think ETFs will keep seeing outflows next Monday and push Bitcoin below $75,600, or will flows finally turn positive and help Bitcoin reclaim $77,700?
$BTC $ETH
#BitcoinETFsSee$412MNetOutflows #BitcoinRebounds$75KAsChipsLead
