Bitcoin fell as much as 16.8% from its September high, while ETF outflows over the same period totaled $2.22 billion.
In its midweek update on November 11, Bitfinex Alpha warned that weak spot buying, combined with leverage that has yet to unwind, could turn this pullback into a deeper decline. The material marks November 22 as a key test for Bitcoin’s rebound.
· The $2.22 billion figure is the amount of ETF outflows that have already occurred, not a forecast.
· “Deeper decline” is the judgment of Bitfinex analysts and reflects their view.
On November 22, would you rather watch ETF net inflows or see whether leverage is falling?
In its midweek update on November 11, Bitfinex Alpha warned that weak spot buying, combined with leverage that has yet to unwind, could turn this pullback into a deeper decline. The material marks November 22 as a key test for Bitcoin’s rebound.
· The $2.22 billion figure is the amount of ETF outflows that have already occurred, not a forecast.
· “Deeper decline” is the judgment of Bitfinex analysts and reflects their view.
On November 22, would you rather watch ETF net inflows or see whether leverage is falling?
