BTC holds above 73,000, but ETFs have seen outflows for five straight days—that’s the signal most worth watching today
BTC is hovering around $73,500, after briefly dipping to $72,700 yesterday. ETH is at $2,045, also struggling to stay above $2,000.
What’s really weighing on the market isn’t a single candlestick—it’s capital flows:
U.S. spot BTC ETFs saw another $299.9 million in outflows on Wednesday, marking five consecutive days of net outflows and bringing cumulative outflows since November 5 to about $1.44 billion. BlackRock’s IBIT alone accounted for $269.7 million, with redemptions continuing for nine straight days.
There’s another key event today: BTC and ETH options expire on November 13, with a notional value of nearly $2.8 billion. The max pain price is $76,000 for BTC and $2,200 for ETH. Both are currently below their respective max pain levels, which means many out-of-the-money call options may expire worthless.
My take:
The short-term outlook is still weak. BTC needs to reclaim $76,400 before we can talk about a trend reversal. If it can’t hold $72,700, the next psychological level is $70,000. ETH’s RSI is now around 29. Being oversold doesn’t mean an immediate reversal—it only means downward momentum may be slowing.
If I were sitting on the sidelines, I wouldn’t chase a long position here or blindly buy the dip. I’d wait for ETF outflows to ease and key levels to be reclaimed before reassessing.
Do you think the consecutive ETF outflows mean institutions are pulling out, or waiting to buy at lower prices?
#BTC #ETH #Market Analysis
$BTC $ETH
This is only my personal analysis and does not constitute investment advice.
BTC is hovering around $73,500, after briefly dipping to $72,700 yesterday. ETH is at $2,045, also struggling to stay above $2,000.
What’s really weighing on the market isn’t a single candlestick—it’s capital flows:
U.S. spot BTC ETFs saw another $299.9 million in outflows on Wednesday, marking five consecutive days of net outflows and bringing cumulative outflows since November 5 to about $1.44 billion. BlackRock’s IBIT alone accounted for $269.7 million, with redemptions continuing for nine straight days.
There’s another key event today: BTC and ETH options expire on November 13, with a notional value of nearly $2.8 billion. The max pain price is $76,000 for BTC and $2,200 for ETH. Both are currently below their respective max pain levels, which means many out-of-the-money call options may expire worthless.
My take:
The short-term outlook is still weak. BTC needs to reclaim $76,400 before we can talk about a trend reversal. If it can’t hold $72,700, the next psychological level is $70,000. ETH’s RSI is now around 29. Being oversold doesn’t mean an immediate reversal—it only means downward momentum may be slowing.
If I were sitting on the sidelines, I wouldn’t chase a long position here or blindly buy the dip. I’d wait for ETF outflows to ease and key levels to be reclaimed before reassessing.
Do you think the consecutive ETF outflows mean institutions are pulling out, or waiting to buy at lower prices?
#BTC #ETH #Market Analysis
$BTC $ETH
This is only my personal analysis and does not constitute investment advice.