$BTC Adding to positions while the price gets hammered—weekly ETF outflows failed to break below 75K
Twitter is buzzing about U.S. spot BTC ETFs seeing roughly $1.28B in net outflows for the week, with the Fear & Greed Index falling back to 25. But the derivatives market isn’t one-sided. The 1H candle at 23:00 on 11/6 plunged to a low of around 74,811, with nearly $2B in trading volume—a massive spike. In that same hour, perpetual open interest jumped from about 94.6K contracts to 96.6K (notional value roughly $7.18B → $7.29B)—price made a new low, but positions expanded instead.
My read: the spot side is seeing redemptions and position cuts, while the derivatives side is adding positions at the falling-knife level, betting that the 75K floor will hold. The current price is still above the support line, and funding rates are close to neutral. Next, watch whether OI keeps climbing or pulls back as soon as price hits resistance.
Do you think 75K is a real bottom or just weekend support that won’t hold?
#BTCHolds75K #WeeklyETFOutflows
Twitter is buzzing about U.S. spot BTC ETFs seeing roughly $1.28B in net outflows for the week, with the Fear & Greed Index falling back to 25. But the derivatives market isn’t one-sided. The 1H candle at 23:00 on 11/6 plunged to a low of around 74,811, with nearly $2B in trading volume—a massive spike. In that same hour, perpetual open interest jumped from about 94.6K contracts to 96.6K (notional value roughly $7.18B → $7.29B)—price made a new low, but positions expanded instead.
My read: the spot side is seeing redemptions and position cuts, while the derivatives side is adding positions at the falling-knife level, betting that the 75K floor will hold. The current price is still above the support line, and funding rates are close to neutral. Next, watch whether OI keeps climbing or pulls back as soon as price hits resistance.
Do you think 75K is a real bottom or just weekend support that won’t hold?
#BTCHolds75K #WeeklyETFOutflows
