Bitcoin ETFs see continued outflows of $1.6 billion, while stock ETFs attract dip-buying
Despite the market decline, fund flows into stock ETFs and Bitcoin ETFs have been completely different.
According to data released on November 11, U.S. spot Bitcoin ETFs saw another net outflow of about $95 million on November 10.
Since the start of November, cumulative net outflows have reached about $1.6 billion. Meanwhile, after a sharp correction in U.S. stocks, stock ETFs attracted substantial buying.
These figures show that some institutional investors are willing to buy the dip in the stock market, but have not been equally eager to buy $BTC .
More notably, on-chain data shows that short-term holders transferred more than 47,000 BTC to exchanges on November 10, and these Bitcoin were moved at prices below their cost basis.
This means some recent buyers are moving their coins while at a loss. If BTC continues to fluctuate around $73,000, I will first watch to see whether ETF flows turn positive again.
As long as institutional funds continue to flow out, caution is warranted about short-term rebounds.
Despite the market decline, fund flows into stock ETFs and Bitcoin ETFs have been completely different.
According to data released on November 11, U.S. spot Bitcoin ETFs saw another net outflow of about $95 million on November 10.
Since the start of November, cumulative net outflows have reached about $1.6 billion. Meanwhile, after a sharp correction in U.S. stocks, stock ETFs attracted substantial buying.
These figures show that some institutional investors are willing to buy the dip in the stock market, but have not been equally eager to buy $BTC .
More notably, on-chain data shows that short-term holders transferred more than 47,000 BTC to exchanges on November 10, and these Bitcoin were moved at prices below their cost basis.
This means some recent buyers are moving their coins while at a loss. If BTC continues to fluctuate around $73,000, I will first watch to see whether ETF flows turn positive again.
As long as institutional funds continue to flow out, caution is warranted about short-term rebounds.