#Bitcoin net outflows narrowed, but the crypto market saw large net outflows. Could 73,000 be the bottom of this pullback?
On Tuesday, #BTC ETF net outflows slowed somewhat. IBIT remained the main channel for outflows, with a daily net outflow of 78.2 million. FTBC saw net outflows of 36.8 million, while MSBT had inflows of 20 million. Overall, daily net outflows totaled 95 million.
After eight consecutive days of net outflows, the pace of outflows from BTC ETFs finally began to slow. Next, we’ll have to see when net outflows stop and inflows resume.
Looking at crypto market data compared with Tuesday, BTC remained relatively stable amid market volatility, while ETH and altcoins saw their share decline significantly.
Trading volume was little changed from the previous day. The key point is that total funds saw daily net outflows of 1.5 billion, including 1.063 billion in net outflows from USDT and 376 million from USDC. However, these net outflows don’t necessarily mean that assets were sold off. Still, they’re certainly not good news for the market!
So here’s the question: setting technical analysis aside, is 73,000 support the bottom of this pullback?
ETF data shows that although prices closed lower on Tuesday, net outflows slowed substantially. Naturally, weaker selling pressure from institutional investors is more favorable for the market. The market has seen a small rebound today, so ETF net outflows are likely to narrow further—or, if there are small net inflows, that would be good news for the 73,000 support level.
As for major crypto market funds, there were significant daily outflows, but trading volume did not increase noticeably. This suggests that funds are simply leaving the market rather than the outflows being driven by sell-offs. Next, we need to watch whether these large outflows continue. If this is just a one-day event, there’s no need to worry.
Whether 73,000 can become effective support and the bottom of this pullback depends first on whether prices stop falling on the hourly timeframe. After that, we’ll need to watch whether ETF data shows net outflows pausing and inflows returning, as well as whether major funds in the crypto market provide data support for prices to stabilize and rebound.#比特币ETF11月净流出16亿美元
On Tuesday, #BTC ETF net outflows slowed somewhat. IBIT remained the main channel for outflows, with a daily net outflow of 78.2 million. FTBC saw net outflows of 36.8 million, while MSBT had inflows of 20 million. Overall, daily net outflows totaled 95 million.
After eight consecutive days of net outflows, the pace of outflows from BTC ETFs finally began to slow. Next, we’ll have to see when net outflows stop and inflows resume.
Looking at crypto market data compared with Tuesday, BTC remained relatively stable amid market volatility, while ETH and altcoins saw their share decline significantly.
Trading volume was little changed from the previous day. The key point is that total funds saw daily net outflows of 1.5 billion, including 1.063 billion in net outflows from USDT and 376 million from USDC. However, these net outflows don’t necessarily mean that assets were sold off. Still, they’re certainly not good news for the market!
So here’s the question: setting technical analysis aside, is 73,000 support the bottom of this pullback?
ETF data shows that although prices closed lower on Tuesday, net outflows slowed substantially. Naturally, weaker selling pressure from institutional investors is more favorable for the market. The market has seen a small rebound today, so ETF net outflows are likely to narrow further—or, if there are small net inflows, that would be good news for the 73,000 support level.
As for major crypto market funds, there were significant daily outflows, but trading volume did not increase noticeably. This suggests that funds are simply leaving the market rather than the outflows being driven by sell-offs. Next, we need to watch whether these large outflows continue. If this is just a one-day event, there’s no need to worry.
Whether 73,000 can become effective support and the bottom of this pullback depends first on whether prices stop falling on the hourly timeframe. After that, we’ll need to watch whether ETF data shows net outflows pausing and inflows returning, as well as whether major funds in the crypto market provide data support for prices to stabilize and rebound.#比特币ETF11月净流出16亿美元
