$BTC has fallen about 25% since October 21. Rich Rosenblum, co-founder of market maker GSR, said the price is nearing the bottom of a long-term trend channel, which has repeatedly provided support over the past year. Unusually, after the price fell below its 200-day moving average and leveraged longs were liquidated, even more traders piled into shorts.
Short sellers who only accelerated their entry after a 25% drop are betting that the channel bottom will break. From October 30 to November 13, U.S. spot Bitcoin ETFs saw nearly $3 billion in net outflows. That was portfolio investors pulling out—not the same as leveraged traders chasing a trend, whose stop-loss levels are close to the current price.
Richard Galvin of DACM compared Anthropic’s upcoming IPO to SpaceX’s pricing period earlier this year, saying it would draw capital away. I can’t verify that point. Next, we’ll see whether the channel bottom holds over the coming days and whether weekly ETF outflows narrow.
#比特币 #比特币ETF #Short
Short sellers who only accelerated their entry after a 25% drop are betting that the channel bottom will break. From October 30 to November 13, U.S. spot Bitcoin ETFs saw nearly $3 billion in net outflows. That was portfolio investors pulling out—not the same as leveraged traders chasing a trend, whose stop-loss levels are close to the current price.
Richard Galvin of DACM compared Anthropic’s upcoming IPO to SpaceX’s pricing period earlier this year, saying it would draw capital away. I can’t verify that point. Next, we’ll see whether the channel bottom holds over the coming days and whether weekly ETF outflows narrow.
#比特币 #比特币ETF #Short