Is money leaving the crypto market? What do ETF, stablecoin, and futures data reveal?
Since early November, market fund flow data has sent a fairly clear signal of caution. What deserves attention is not only the continued outflows from ETFs, but also changes in stablecoin supply and leverage in the futures market.
1. ETFs: BTC and ETH are still under pressure from outflows
November 2–6:
$BTC spot ETFs saw net outflows of about $1.19 billion;
$ETH spot ETFs saw net outflows of about $380.7 million;
$HYPE ETFs saw net outflows of about $15.4 million;
SOL ETFs, by contrast, saw net inflows of about $723,000.
The crypto ETFs included in this data set saw combined net outflows of about $1.59 billion.
On November 9, BTC spot ETFs saw another net outflow of about $201 million. This suggests that buying through institutional ETF channels has yet to recover significantly.
2. Stablecoins: Signs of shrinking market liquidity
On November 10, the combined supply of USDT and USDC fell by about $757.8 million.
The total supply of dollar-pegged stablecoins currently stands at about $292 billion, down approximately 4.9% over the past 30 days.
Stablecoins are an important source of liquidity for the crypto market, so a decline in supply warrants caution. However, a decrease in supply does not mean all funds have left the market; exchange flows and on-chain activity should also be monitored.
3. Futures market: Long positions remain under liquidation pressure
November 11:
BTC futures open interest was about $29.8 billion;
Up 2.3% over 24 hours;
BTC futures liquidations totaled about $174 million over 24 hours;
Of that, about $148 million came from long positions, or nearly 85%.
This indicates that the market still has a significant number of leveraged positions. When prices weaken, continued liquidations of long positions could further amplify short-term volatility.
Xiaobaitao's personal take
All three signals currently point to caution: ETF outflows, a shrinking stablecoin supply, and continued liquidations of long positions in the futures market.
For short-term trading, manage your position size, don't rush to buy the dip, and don't blindly chase shorts just because prices are falling. Wait for confirmation from price action and trading volume.
This article is for market analysis only and does not constitute investment advice.
#加密市场24小时清算达11.6亿美元
#Strategy上周增持1037枚比特币
Since early November, market fund flow data has sent a fairly clear signal of caution. What deserves attention is not only the continued outflows from ETFs, but also changes in stablecoin supply and leverage in the futures market.
1. ETFs: BTC and ETH are still under pressure from outflows
November 2–6:
$BTC spot ETFs saw net outflows of about $1.19 billion;
$ETH spot ETFs saw net outflows of about $380.7 million;
$HYPE ETFs saw net outflows of about $15.4 million;
SOL ETFs, by contrast, saw net inflows of about $723,000.
The crypto ETFs included in this data set saw combined net outflows of about $1.59 billion.
On November 9, BTC spot ETFs saw another net outflow of about $201 million. This suggests that buying through institutional ETF channels has yet to recover significantly.
2. Stablecoins: Signs of shrinking market liquidity
On November 10, the combined supply of USDT and USDC fell by about $757.8 million.
The total supply of dollar-pegged stablecoins currently stands at about $292 billion, down approximately 4.9% over the past 30 days.
Stablecoins are an important source of liquidity for the crypto market, so a decline in supply warrants caution. However, a decrease in supply does not mean all funds have left the market; exchange flows and on-chain activity should also be monitored.
3. Futures market: Long positions remain under liquidation pressure
November 11:
BTC futures open interest was about $29.8 billion;
Up 2.3% over 24 hours;
BTC futures liquidations totaled about $174 million over 24 hours;
Of that, about $148 million came from long positions, or nearly 85%.
This indicates that the market still has a significant number of leveraged positions. When prices weaken, continued liquidations of long positions could further amplify short-term volatility.
Xiaobaitao's personal take
All three signals currently point to caution: ETF outflows, a shrinking stablecoin supply, and continued liquidations of long positions in the futures market.
For short-term trading, manage your position size, don't rush to buy the dip, and don't blindly chase shorts just because prices are falling. Wait for confirmation from price action and trading volume.
This article is for market analysis only and does not constitute investment advice.
#加密市场24小时清算达11.6亿美元
#Strategy上周增持1037枚比特币
