Guys, Bitcoin ETFs have seen $1.6 billion in outflows this month, but there’s one detail nobody’s talking about: the outflows are getting smaller day by day.
There were $430 million in outflows on the 5th, $410 million on the 6th, $200 million on the 9th, and just $95 million on the 10th—roughly halving each day. BlackRock’s IBIT saw outflows for eight straight days, but the 10th had the smallest outflow of those eight days.
Around the same time, stock ETFs reportedly saw $12 billion in inflows in a single day. The money hasn’t left the market; it just thinks Bitcoin is too weak and has gone elsewhere.
A couple of days ago, I said that if we want to see a reversal, we should first wait for ETFs to turn to net inflows. Now it looks like we’re not far from that point. If outflows shrink for another day or two, a move into positive territory won’t be far off.
Bitcoin is at 74,200 now. Just a little while ago, at 1:40, it dipped to 72,800. The outlook is still bearish; I won’t turn bullish unless it gets back above 75,500.
The day ETFs turn positive, I’ll let you guys know right away. #比特币ETF11月净流出16亿美元 $BTC
There were $430 million in outflows on the 5th, $410 million on the 6th, $200 million on the 9th, and just $95 million on the 10th—roughly halving each day. BlackRock’s IBIT saw outflows for eight straight days, but the 10th had the smallest outflow of those eight days.
Around the same time, stock ETFs reportedly saw $12 billion in inflows in a single day. The money hasn’t left the market; it just thinks Bitcoin is too weak and has gone elsewhere.
A couple of days ago, I said that if we want to see a reversal, we should first wait for ETFs to turn to net inflows. Now it looks like we’re not far from that point. If outflows shrink for another day or two, a move into positive territory won’t be far off.
Bitcoin is at 74,200 now. Just a little while ago, at 1:40, it dipped to 72,800. The outlook is still bearish; I won’t turn bullish unless it gets back above 75,500.
The day ETFs turn positive, I’ll let you guys know right away. #比特币ETF11月净流出16亿美元 $BTC
