The money hasn’t left risk assets—it’s just moved to a different pocket: BTC ETFs saw $1.44 billion in outflows over five days, while US stock ETFs attracted about $12 billion a day over the same period.
US spot BTC ETFs recorded net outflows for five consecutive trading days, totaling about $1.44 billion from November 5 to 11. Outflows on the 11th alone reached $300 million.
Of that $300 million on the 11th, BlackRock’s IBIT accounted for $270 million. IBIT has now seen outflows for nine consecutive trading days, totaling more than $2 billion.
Where did the same money go? According to Bloomberg ETF analyst Balchunas, US stock ETFs averaged about $12 billion in net inflows per day over the past five trading days. The top 17 funds by inflows were all equity funds, led by VOO, QQQ, and IVV.
It wasn’t just BTC in the red: ETH ETFs also saw net outflows of $145 million on the 11th, marking five consecutive days of outflows.
BTC is currently around $71,427. It fell 3.6% yesterday, dipping as low as $71,255, and is down about 3.9% over the past five trading days.
My take: this isn’t “flight to safety”—it’s rotation.
The same institutional money is buying the dip in stocks while redeeming from crypto. BTC has become the easiest asset to sell in this correction.
That also explains why US stocks can rise while BTC doesn’t follow: what’s falling isn’t risk appetite, but BTC’s standing among risk assets.
The key question is: when will the rotation stop? October PPI is due at 21:30 tonight, with a month-over-month forecast of +0.4%. If it comes in hotter than expected, a 25-basis-point rate hike in December will be all but locked in, and the rotation could continue.
Watch for two signals next: whether BTC ETF flows turn positive, and whether BTC can reclaim $73,000. Only when both happen will there be evidence that money is coming back.
Are you holding cash and waiting, or have you already started buying the dip in stocks?
$BTC $ETH
#比特币 #ETF #美联储 #PPI
The above is for informational purposes only and does not constitute investment advice.
US spot BTC ETFs recorded net outflows for five consecutive trading days, totaling about $1.44 billion from November 5 to 11. Outflows on the 11th alone reached $300 million.
Of that $300 million on the 11th, BlackRock’s IBIT accounted for $270 million. IBIT has now seen outflows for nine consecutive trading days, totaling more than $2 billion.
Where did the same money go? According to Bloomberg ETF analyst Balchunas, US stock ETFs averaged about $12 billion in net inflows per day over the past five trading days. The top 17 funds by inflows were all equity funds, led by VOO, QQQ, and IVV.
It wasn’t just BTC in the red: ETH ETFs also saw net outflows of $145 million on the 11th, marking five consecutive days of outflows.
BTC is currently around $71,427. It fell 3.6% yesterday, dipping as low as $71,255, and is down about 3.9% over the past five trading days.
My take: this isn’t “flight to safety”—it’s rotation.
The same institutional money is buying the dip in stocks while redeeming from crypto. BTC has become the easiest asset to sell in this correction.
That also explains why US stocks can rise while BTC doesn’t follow: what’s falling isn’t risk appetite, but BTC’s standing among risk assets.
The key question is: when will the rotation stop? October PPI is due at 21:30 tonight, with a month-over-month forecast of +0.4%. If it comes in hotter than expected, a 25-basis-point rate hike in December will be all but locked in, and the rotation could continue.
Watch for two signals next: whether BTC ETF flows turn positive, and whether BTC can reclaim $73,000. Only when both happen will there be evidence that money is coming back.
Are you holding cash and waiting, or have you already started buying the dip in stocks?
$BTC $ETH
#比特币 #ETF #美联储 #PPI
The above is for informational purposes only and does not constitute investment advice.