US spot Bitcoin ETFs just printed 201 million dollars of net outflows, the third straight day of money walking out. 📰
Farside Investors data, reported by SmartXSignals, shows US spot Bitcoin ETFs recorded about 201 million dollars of net outflows on Monday 9 November, with BlackRock IBIT alone losing 213.2 million dollars, its seventh straight session of outflows. 📊 Spot Ethereum ETFs lost about 185 million dollars on the same day, so this is not a Bitcoin only story, it is institutions stepping back across the board while the hot CPI print pushes December hike odds higher. My reading is that ETF flows are the cleanest tell in this market right now, because three straight days of redemptions mean the biggest buyers have turned into sellers, and a market cannot bottom while its largest bid keeps shrinking, even if the price is holding above its 200 day average for now.
Do ETF outflows stop this week, or does a fourth red day push Bitcoin under 72,700 dollars? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #ETF
Farside Investors data, reported by SmartXSignals, shows US spot Bitcoin ETFs recorded about 201 million dollars of net outflows on Monday 9 November, with BlackRock IBIT alone losing 213.2 million dollars, its seventh straight session of outflows. 📊 Spot Ethereum ETFs lost about 185 million dollars on the same day, so this is not a Bitcoin only story, it is institutions stepping back across the board while the hot CPI print pushes December hike odds higher. My reading is that ETF flows are the cleanest tell in this market right now, because three straight days of redemptions mean the biggest buyers have turned into sellers, and a market cannot bottom while its largest bid keeps shrinking, even if the price is holding above its 200 day average for now.
Do ETF outflows stop this week, or does a fourth red day push Bitcoin under 72,700 dollars? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #ETF
