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The outflows have continued for five days, and the amounts keep growing—the selling wave isn’t over yet.
📊 First group: On November 11, total outflows reached $445 million in a single day
BTC spot ETFs saw net outflows of $299.8 million, while ETH spot ETFs saw net outflows of $144.8 million, for combined net outflows of $444.6 million.
This marked the fifth consecutive trading day of net outflows for both BTC and ETH, and the largest combined single-day outflow since the start of November.
💸 Second group: IBIT is still leading the outflows
IBIT saw $269.7 million in outflows in a single day, marking its ninth consecutive day of outflows. Since October 30, cumulative outflows have reached around $2 billion. GBTC saw $39.1 million in outflows. MSBT was the only fund to see inflows for the day, at +$9 million.
On the ETH side, ETHA saw $129.8 million in outflows, accounting for nearly 90% of the day’s ETH outflows. ETHB, FETH, ETHW, and EZET each saw outflows ranging from $800,000 to $5.3 million. Not a single ETH fund recorded inflows.
📉 Third group: $927 million in outflows over three days, but prices haven’t hit new lows
Total outflows were $385.6 million on November 9, $96.3 million on November 10, and $444.6 million on November 11—around $927 million over the three days combined.
But prices haven’t collapsed along with them: BTC closed at $73,904 on November 11, while ETH closed at $2,053.58 (Finnhub), both still above their November 10 lows of $72,727 and $2,006, respectively. Some are selling, while others are buying the dip—but buying pressure hasn’t been strong enough to push prices back up.
🧭 My take
Larger outflows without new price lows suggest this isn’t panic selling, but more like institutions steadily reducing their positions. The real turning point isn’t today, but tomorrow: November 13’s PPI will tell the market whether the December rate cut will be 25 bp or 50 bp—that’s the factor that will determine whether ETF flows turn around.
📌 Key levels
If PPI comes in cool and outflows narrow: BTC’s first level to watch is $75,456; for ETH, $2,170.
If PPI comes in hot again and outflows exceed $300 million: BTC’s first level to watch is $72,727; for ETH, $2,000.
If prices move sideways: BTC trades in a range of $72,727–$75,456, and ETH in a range of $2,000–$2,170.
#ETF资金流 #比特币
The outflows have continued for five days, and the amounts keep growing—the selling wave isn’t over yet.
📊 First group: On November 11, total outflows reached $445 million in a single day
BTC spot ETFs saw net outflows of $299.8 million, while ETH spot ETFs saw net outflows of $144.8 million, for combined net outflows of $444.6 million.
This marked the fifth consecutive trading day of net outflows for both BTC and ETH, and the largest combined single-day outflow since the start of November.
💸 Second group: IBIT is still leading the outflows
IBIT saw $269.7 million in outflows in a single day, marking its ninth consecutive day of outflows. Since October 30, cumulative outflows have reached around $2 billion. GBTC saw $39.1 million in outflows. MSBT was the only fund to see inflows for the day, at +$9 million.
On the ETH side, ETHA saw $129.8 million in outflows, accounting for nearly 90% of the day’s ETH outflows. ETHB, FETH, ETHW, and EZET each saw outflows ranging from $800,000 to $5.3 million. Not a single ETH fund recorded inflows.
📉 Third group: $927 million in outflows over three days, but prices haven’t hit new lows
Total outflows were $385.6 million on November 9, $96.3 million on November 10, and $444.6 million on November 11—around $927 million over the three days combined.
But prices haven’t collapsed along with them: BTC closed at $73,904 on November 11, while ETH closed at $2,053.58 (Finnhub), both still above their November 10 lows of $72,727 and $2,006, respectively. Some are selling, while others are buying the dip—but buying pressure hasn’t been strong enough to push prices back up.
🧭 My take
Larger outflows without new price lows suggest this isn’t panic selling, but more like institutions steadily reducing their positions. The real turning point isn’t today, but tomorrow: November 13’s PPI will tell the market whether the December rate cut will be 25 bp or 50 bp—that’s the factor that will determine whether ETF flows turn around.
📌 Key levels
If PPI comes in cool and outflows narrow: BTC’s first level to watch is $75,456; for ETH, $2,170.
If PPI comes in hot again and outflows exceed $300 million: BTC’s first level to watch is $72,727; for ETH, $2,000.
If prices move sideways: BTC trades in a range of $72,727–$75,456, and ETH in a range of $2,000–$2,170.
#ETF资金流 #比特币