Jin Zhu’s take: Tonight $BTC dropped to around 72,500. I think the main pressure is coming from U.S. spot Bitcoin ETFs, which have seen net outflows for five trading days in a row.

Farside data: Over the five days from 11/5 to 11/11, ETFs saw total net outflows of about $1.44 billion, with not a single day of net inflows.

As for price, Binance spot hit a low of 72,234 today, breaking below the 200-day moving average I calculated using Binance daily closes, which is around 73,150.

In this morning’s post about Strategy, I wrote, “If it breaks 72,700, exit.” That level has now been breached. The plan remains unchanged: stay out for now.

I’m still bullish, but I’ll wait for a signal before getting back in: either price moves back above the 200-day moving average at 73,150, or ETFs start seeing consecutive net inflows again. Then I’ll scale back in with small positions.

While ETF funds are still flowing out, what signal would you use to decide when to get back in?

#比特币 #ETF #BTC $BTC

Data sources: Farside Investors’ U.S. spot Bitcoin ETF flows and Binance spot BTCUSDT prices and daily candles. Not investment advice. DYOR.