After the PPI release, prices made only a brief jump, with no sustained rebound. They are still hovering near the lows after giving back their gains, and yesterday’s low has not yet been breached.
The U.S. Bureau of Labor Statistics (BLS) reported that final-demand PPI rose 0.3% month over month in October, below the roughly 0.4% consensus tracked by CME Econoday last night; however, it rose 6.5% year over year, the largest increase since November 2022. Excluding food, energy, and trade services, it was still up 0.5% month over month, while September’s overall monthly increase was revised from 1.3% to 1.4%. On Binance spot, the 21:30 15-minute candle saw $BTC surge from around 69246 to a high of 70214, while $ETH reached a high of 1989.11; both then gave back all their gains. At 07:15 this morning, BTC hit 67865 and is now around 68296, still above yesterday’s low of 67568; ETH is now around 1930, after hitting a low of 1912 last night, also still above yesterday’s low of 1895.95. Farside’s complete data for 11/12 is now available: U.S. spot Bitcoin ETFs saw net outflows of about $284.1 million, including about $203.8 million from IBIT.
If prices fall below this morning’s low of 67865 again, especially if they also break below yesterday’s low of 67568, watch to see whether the pullback deepens. If they can climb back above the pre-PPI level (around the 21:30 open at 69246), watch to see whether the brief surge has simply been absorbed. The structure is invalidated if the overnight spike high of 70214 is reclaimed and held above.
Are you more concerned about seeing 67568 first, or recovering to around 69246 first?
Data sources: Binance spot market data, the U.S. Bureau of Labor Statistics (BLS) October PPI, and Farside Investors. Not investment advice.
PPI is coming up soon, and this evening prices have already retested the afternoon rebound highs: ETH is still above them, while BTC moved above and then fell back.
Binance spot: $BTC at around 69,230 (24-hour change: -4.75%); $ETH at around 1,956 (-2.87%). Today's lows remain 67,568/1,895.95, with no further downside. The afternoon rebound highs around 15:00 were approximately 69,371/1,947.69; this evening, BTC touched around 69,571 on the 15-minute candle at 19:15, while ETH touched 1,965 at 20:00. BTC has now slipped slightly below 69,371, while ETH remains above 1,947.
Farside's figures for 11/12 are still incomplete (IBIT, ETHA, and ETHB have not yet reported), but the disclosed outflows are larger than those seen this afternoon: U.S. spot BTC ETFs saw net outflows of around $80.3 million (compared with around $47.7 million seen this afternoon; this update is mainly due to FBTC reporting an additional roughly $32.6 million in outflows; there were also around $26.4 million from BITB, $18.5 million from ARKB, and $6.1 million from HODL, offset by around $3.3 million in inflows to MSBT). Disclosed ETH ETF net outflows were around $8.5 million. Yahoo Finance U.S. stock futures for the S&P 500/Nasdaq 100/Dow were around 7,638 (+0.29%)/28,407 (+0.08%)/52,521 (+0.25%), a slight strengthening from midday.
Next up: October PPI from the BLS tonight at 21:30 (8:30 a.m. ET). CME Econoday consensus: headline month over month around +0.4%, year over year around +6.6%; core month over month around +0.3%, year over year around +5.0%. Previous readings were +1.3%/+6.3% and +0.7%/+5.0%, respectively. U.S. stocks open at 22:30.
If tonight's PPI month-over-month reading comes in above the 0.4% consensus, do you think the evening rebound will be given back first, or has the market already priced it in ahead of the data?
Sources: Binance Spot, Farside Investors, Yahoo Finance, BLS calendar, and CME Econoday. Not investment advice. #PPI #Macroeconomics
The midday low didn’t hold into the afternoon: $BTC hit a new low for the day at 67,568 on heavy volume at 13:56, then rebounded to around 69,000. It’s now around 68,830 (24-hour change: -6.05%).
On Binance spot, the midday low of around 68,307 at 13:00 was breached again. $ETH also hit a new low for the day at 1,895.95 at 13:56, and is now around 1,936 (24-hour change: -5.09%). A rebound followed 14:00: BTC reached around 69,371 at 15:01, while ETH touched around 1,947.69 at 15:11. Both stayed within that rebound range for the next few hours, without making new lows. Farside’s U.S. spot BTC ETF data for 11/12 is still incomplete; reported net outflows are around $47.7 million. Tonight at 21:30 (8:30 a.m. Eastern), the U.S. Bureau of Labor Statistics will release October PPI. The CME Econoday consensus is around +0.4% month over month overall and +0.3% for core, compared with previous readings of +1.3% and +0.7%, respectively.
After tonight’s PPI release, will you first watch to see whether prices retest today’s low of 67,568, or whether this rebound can first move above the 15:01 high of 69,371?
Data sources: Binance spot, Farside Investors, U.S. Bureau of Labor Statistics, CME Econoday. Not investment advice.
$BTC The morning low of 70,688 didn't hold. Before noon, heavy selling pushed the price below 70,000, and at 13:00 it hit a new low of 68,307.
Binance spot is currently around 68,788, down 6.52% over 24 hours; $ETH is around 1,927, down 5.73%, with an intraday low of around 1,913 at 13:05—below last night's low of 1,983.82. Around 9 a.m., prices were still near 71,000. At 10:10, they fell below this morning's low, and at 10:50, they fell below 70,000. Trading volume rose noticeably on the 15-minute candles at 11:15 and 11:45. U.S. stock futures didn't fall in tandem: at midday, Yahoo Finance showed S&P 500, Nasdaq 100, and Dow futures at around 7,620 (+0.07%), 28,380 (-0.02%), and 52,421 (+0.06%), respectively. CoinGlass shows approximately $406 million in BTC long liquidations and $132 million in ETH long liquidations over the past four hours. Farside's U.S. spot ETF data for 11/12 is still incomplete, but reported BTC net outflows are around $47.7 million. Tonight at 21:30 (8:30 a.m. ET), the BLS will release October PPI. The CME Econoday consensus is around +0.4% month over month for headline PPI and +0.3% for core, compared with previous readings of +1.3% and +0.7%, respectively.
Before the PPI release, will this decline stabilize above 68,307, or will that low be tested again?
$BTC failed to hold steady as U.S. stocks edged lower. After U.S. markets opened last night, they continued to fall, and around 8:30 this morning, a new low of about 70688 was seen.
Binance spot is currently around 70965, down about 3.71% over 24 hours. Compared with the low of about 72234 reached by the 15-minute candle at 21:00 last night, it has fallen another roughly 1,500. $ETH has been relatively resilient: its low last night was about 1983.82, this morning's 8:30 low was about 2000.75, and it is currently around 2011, down about 1.94% over 24 hours.
At 21:30 last night, the U.S. Department of Labor reported 200,000 initial jobless claims for the week ending November 7, up 9,000 from the revised previous figure of 191,000 (revised up from 189,000) and above the roughly 195,000 expected in a Reuters poll. Yahoo Finance showed that U.S. stocks closed at 7592.40 (-0.35%) for the S&P 500, 25366.09 (-0.39%) for the Nasdaq, and 52297.09 (-0.36%) for the Dow. BTC, however, fell to around 71293 during the 22:00–23:00 U.S. market open, rebounded to around 72223 overnight, then weakened again.
Farside's November 12 data is incomplete. The U.S. spot BTC ETFs reported so far saw combined net outflows of about $41.6 million (BITB about -$26.4 million, ARKB about -$18.5 million, MSBT about +$3.3 million; IBIT, FBTC, and others have not reported). The reported ETH ETF portion showed net outflows of about $5.5 million. For complete data, we still have to look back to November 11: BTC about -$299.8 million and ETH about -$144.8 million.
Tonight at 21:30, the BLS will also release October PPI (Econoday expects about +0.4% month over month overall and +0.3% for core, versus previous figures of +1.3% and +0.7%). Do you think this drop to around 70,000 looks more like a reaction to higher-than-expected initial jobless claims, or is the market already pricing in tonight's PPI?
Data sources: Binance spot, U.S. Department of Labor, Reuters, Yahoo Finance, Farside, BLS, Econoday. This is not investment advice.
$BTC just broke below yesterday’s low, while U.S. stock futures weakened in tandem. The sell-off hit in the minutes before the jobless claims release.
Binance spot prices are currently around 72481 for BTC, down about 1.97% over 24 hours; $ETH is around 2003, down about 2.55%. Today’s highs remain around 74811 / 2104 from overnight, but the lows have already reached around 72234 / 1988—below the roughly 73280 seen in the evening, and below yesterday’s lows of about 72727 / 2006. Prices started breaking down around 19:30, and the 21:00 15-minute candle saw a spike in volume that set new lows.
U.S. stock futures also weakened around the same time (AtlasVector, approximately 21:17 Beijing time): S&P 500 around 7575 (-0.85%), Nasdaq 100 around 28037 (-1.53%), and Dow around 52331 (-0.47%). The Nasdaq fell further. Initial jobless claims are due at 21:30 tonight (Trading Economics consensus: around 195,000, previous: 189,000), followed by the U.S. market open at 22:30. PPI is due at the same time tomorrow.
Would you first watch to see whether jobless claims come in above 195,000, or whether BTC’s low tonight around 72234 gets bought back immediately?
Data sources: Binance spot, AtlasVector, Trading Economics. Not investment advice.
$BTC In the evening, prices continued making new lows. Binance spot hit a low of around $73,280, breaking below the approximately $73,390 seen at midday. The early-morning rebound to around $74,811 has been completely erased; BTC is now around $73,306, down about 0.53% over 24 hours. ETH is around $2,041 (down about 0.69% over 24 hours), still above the early-session low of around $2,036.
Compared with midday, U.S. spot ETF flows for the 12th have yet to begin. The real new developments are the gradual price decline and the finalization of the MSCI review. MSCI's official announcement says changes from its November index review will take effect at the close on November 30. Bloomberg and Cointelegraph report that Strategy (STRATEGY A) is marked “Deleted” on the list and will be removed from indices including the MSCI USA Index; Metaplanet and others are also included in the same batch. Passive funds will need to sell shares before the changes take effect. This does not force the company to sell its coins, but it removes a layer of passive buying support for the stock. Strategy's third-quarter report had already anticipated this, and its response to an inquiry said the funds in question hold about 13 million shares, around 3.1% of its basic share capital and less than one day's trading volume. Bloomberg cited a JPMorgan estimate from last year of about $2.8 billion, though its methodology differs from the company's.
Initial jobless claims are due tonight at 21:30 (calendars such as Jin10 expect around 195,000, versus 189,000 previously); PPI is due at the same time tomorrow. U.S. stock futures on Yahoo Finance: S&P 500 around -0.39%, Nasdaq 100 around -0.80%, and Dow around +0.04%.
Are you more concerned that passive selling pressure before November 30 will first affect Strategy's financing and then spill over into spot markets, or do you think this has already been priced in?
Data sources: Binance spot, Yahoo Finance, MSCI November Index Review announcement, Bloomberg, and Cointelegraph. Not investment advice.
In the morning, only data for some products was available. After Farside filled in the complete data for November 11, the outflows turned out to be much larger than they first appeared.
Bitcoin spot ETFs saw net outflows of about $299.8 million that day, including approximately -$269.7 million for IBIT, -$39.1 million for GBTC, and +$9 million for MSBT. Ethereum spot ETFs had net outflows of about $144.8 million, mainly from ETHA (approximately -$129.8 million). Compared with about -$95 million and -$1.3 million on 11/10, outflows clearly picked up again. Net outflows so far this week (11/9–11/11) were approximately $596 million and $331 million, respectively.
In spot markets, $BTC is currently around 73,554 (-0.34% over 24 hours), with a daily low near 73,390—slightly below this morning’s low. $ETH is around 2,042 (-1.14%), still near its daily low of about 2,036, and weaker than Bitcoin. The overnight highs remain around 74,811 and 2,104, respectively.
Next, watch the U.S. initial jobless claims data at 21:30 Beijing time tonight (Trading Economics consensus: around 195,000; previous: 189,000), followed by PPI at the same time tomorrow.
Do you think the larger outflows on 11/11 will weigh on ETH first, or will the market wait for tonight’s jobless claims to determine direction?
Data sources: Binance spot, Farside Investors, Trading Economics. Not investment advice. #现货ETF #Initial Jobless Claims
Bitcoin rebounded overnight alongside U.S. stocks, climbing to around 74811 before failing to hold. The Asian session gave back nearly all of the gains; it is now around 73664, roughly where it was last night.
Binance Spot $BTC is currently around $73664 (24-hour change: +0.16%), with a range of around 73209–74811. It hit a high around 5 a.m. Beijing time this morning, then dipped to around 73480 around 7 a.m. $ETH climbed to around 2104 before falling back to around 2051 (24-hour change: +0.10%), with an intraday low of around 2036.
U.S. stocks held on to their gains. Yahoo Finance shows that on November 11, the S&P 500 closed at 7619.38 (+1.31%), the Nasdaq Composite at 25466.19 (+1.60%), and the Dow at 52486.49 (+0.49%). Crypto only followed the overnight rally for a while and did not carry those gains forward.
On the flows front, data for major products from Farside for November 11 is still incomplete: IBIT, FBTC, ETHA, and others have yet to report. Among the figures disclosed so far, Bitcoin ETFs saw net outflows of around $30.1 million in total (GBTC: around -$39.1 million; MSBT: around +$9 million), while Ethereum ETFs saw net outflows of around $5.6 million. The complete November 10 figures remain around -$95 million for Bitcoin and -$1.3 million for Ethereum.
Tonight at 21:30 Beijing time, watch for U.S. initial jobless claims. The previous figure was 189,000, and the median estimate in a Reuters poll is around 195,000. PPI is due at the same time tomorrow.
Do you think this pullback after the spike looks more like a failed short-term rally that failed to keep pace with U.S. stocks, or should we wait for the November 11 data from major ETF products to come in before drawing a conclusion?
Sources: Binance Spot, Yahoo Finance, Farside Investors, Reuters (as relayed by Interactive Brokers). This is not investment advice.
Before the U.S. market opens this evening: Today is Veterans Day. The NYSE and Nasdaq are open as usual (opening at 22:30 Beijing time), while the bond market is closed.
U.S. stock futures: S&P 500, Nasdaq 100, and Dow futures are up approximately 0.89%, 1.87%, and 0.24%, respectively (Yahoo Finance). On Tuesday, the S&P 500, Nasdaq, and Dow cash indexes fell approximately 0.4%, 0.7%, and 0.3%, respectively, as markets mainly digested October CPI, which came in slightly above expectations: BLS headline CPI rose 0.4% month over month (versus expectations of around 0.3%), while core CPI rose 0.3% (versus expectations of around 0.2%).
$BTC is trading at around $73,928 (down 0.40% over 24 hours), and $ETH at around $2,055 (down 1.76%). Both have recovered from intraday lows of around $72,727 and $2,006, respectively, but remain lower. Farside: On 11/10, U.S. spot Bitcoin ETFs saw net outflows of around $95 million, and Ethereum ETFs saw net outflows of around $1.3 million; week to date (11/9–11/10), the figures were around $296 million and $186 million, respectively. Today’s creations and redemptions will be reported after the close.
Watch for initial jobless claims at 21:30 Beijing time on Thursday (the median estimate in a Wall Street Journal survey is around 195,000, versus 189,000 previously), and U.S. October PPI at 21:30 on Friday (BLS calendar; the Wall Street Journal survey expects headline PPI to rise around 0.4% month over month and core PPI around 0.3%, versus prior readings of 1.3% and 0.7%, respectively).
Sources: Binance spot, Yahoo Finance, Farside, BLS, and Wall Street Journal survey. Not investment advice. #宏观 #BTC #U.S.Stocks
【Evening institutional perspective】Complete U.S. spot ETF data for 11/10 has been released; outflows narrowed significantly.
Farside: On 11/10, Bitcoin spot ETFs saw net outflows of approximately $95 million (IBIT about -$78.2 million, FBTC about -$36.8 million, MSBT about +$20 million); Ethereum spot ETFs were nearly flat, with net outflows of approximately $1.3 million (ETHA: 0). Compared with net outflows of approximately $201 million and $185 million, respectively, on 11/9, the pressure has eased. Week to date (11/9–11/10), net outflows were approximately $296 million and $186 million, respectively. U.S. stock markets are closed today for Veterans Day, so there are no new creation/redemption figures.
Spot: $BTC at approximately 73,622 (-1.10%); $ETH at approximately 2,053 (-2.56%). Both remain weak after recovering from intraday lows of approximately 72,727/2,006. Watch U.S. PPI on Friday at 21:30 Beijing time.
Data sources: Binance Spot, Farside Investors. Not investment advice. #比特币 #ETF #Macro
Midday market update: Some recovery from the lows, but complete ETF data is still unavailable.
Binance spot: $BTC is currently around $73,872 (about -1.32% over 24h), and $ETH is around $2,068 (about -2.69%). Both have rebounded from intraday lows of around $72,727 and $2,006, respectively, but remain down. SOL is around $83.1 (about -3.53%), showing a relatively larger decline.
On flows, the latest complete trading day from Farside is still 11/9: U.S. spot Bitcoin ETFs saw net outflows of about $201 million (IBIT about -$213 million), while Ethereum ETFs saw about $185 million (ETHA about -$119 million). Figures for major products (IBIT, ETHA, etc.) on 11/10 have not yet been released. Among the Grayscale products with reported figures, GBTC and Bitcoin-side BTC were at 0, while ETH saw net outflows of about $2 million. U.S. stock markets are closed today for Veterans Day, so there will be no new creations or redemptions for U.S. spot ETFs today.
Watch for U.S. October PPI on Friday (11/13) at 21:30 Beijing time.
Data sources: Binance spot, Farside Investors, BLS. Not investment advice. #比特币 #ETF #Macroeconomics
Morning Brief: Risk assets retreat after CPI comes in above expectations; U.S. markets are closed today for Veterans Day.
The BLS has released U.S. October CPI: headline CPI rose 0.4% month over month (Dow Jones survey estimate around 0.3%; September was 0.6%), while core CPI rose 0.3% (estimate around 0.2%; unchanged from August and September). Because the 2025 federal government shutdown left no comparable base, year-over-year figures were not published for most components this time. Shelter rose 0.3% month over month, accounting for more than 30% of the headline increase; food rose 0.5%, energy 0.7%, and gasoline 1.0%.
U.S. stocks closed lower on Tuesday, with the S&P 500 down around 0.4%, the Nasdaq around 0.7%, and the Dow around 0.3%. In early Binance spot trading, $BTC was trading at around 73518 (down around 2.11% over 24 hours), with a daily low of around 72727; $ETH was around 2048 (down around 3.71% over 24 hours), with a daily low of around 2006. SOL was around 83.07 (down 4.09%) and BNB around 679.6 (down 1.65%).
On flows, the latest complete data from Farside is still for November 9: U.S. spot BTC ETFs saw net outflows of around $201 million (IBIT around -$213 million), while ETH ETFs saw around $185 million in outflows (ETHA around -$119 million); data for major products on November 10 is not yet complete.
Next event to watch: Friday (11/13) at 21:30 Beijing time, when the BLS releases October PPI.
Data sources: Binance spot, BLS, Farside, Dow Jones/CNBC, AP/AFP. Not investment advice. #比特币 #CPI #Macroeconomics
Tonight’s focus is clear: at 21:30 Beijing time, the U.S. Bureau of Labor Statistics will release October CPI, and U.S. stocks are about to open.
Binance spot: $BTC is currently around $74,425, down about 0.52% over 24 hours; $ETH is around $2,099, down about 0.98%. Today’s lows were approximately $74,116 and $2,084, respectively.
Futures are mixed before the open: Dow futures are up about 0.39%, S&P 500 futures are roughly flat (up about 0.06%), and Nasdaq 100 futures are down about 0.40%. Crude oil continues to retreat, with WTI down about 2.2% and Brent down about 2.7%. U.S. stocks had already surged on Monday (S&P/Nasdaq/Dow up about 2.4%/2.7%/2.2%), so tonight looks more like a wait for inflation data to set the tone.
The market broadly expects October headline CPI to rise about 0.3% month over month and core CPI about 0.2% (compared with 0.6% and 0.3%, respectively, in September). Because the 2025 government shutdown left some data for last October unavailable, this report will not include year-over-year growth rates; only month-over-month figures will be available. Fed Governor Waller said today that he favors a rate hike in December, and that a 50-basis-point hike could even be considered if inflation comes in above expectations. October PPI is also due Friday (11/13).
Sources: Binance spot, Yahoo Finance (futures), CNBC, U.S. Bureau of Labor Statistics. Not investment advice. #CPI #比特币 #Macroeconomics
Evening institutional view: Strategy continues to accumulate, while spot remains below its cost basis.
Binance spot $BTC is currently around $74,429, down 0.37% over 24 hours, with an intraday range of around $74,058–$75,568; $ETH is around $2,105, down 1.04%. Spot momentum is weak, failing to keep pace with Monday’s U.S. stock rebound—the S&P 500, Nasdaq, and Dow closed up around 2.4%, 2.7%, and 2.2%, respectively. As of around 17:03 Beijing time, U.S. stock futures were up around 0.20% for the S&P 500 and 0.50% for the Dow, while the Nasdaq was roughly flat.
Strategy’s official ledger disclosed on 11/9 that it bought another 1,036 BTC last week at an average price of around $79,012, bringing total holdings to 850,364 BTC, with an aggregate cost basis of around $75,456; spot remains slightly below this cost basis. Meanwhile, Farside data show U.S. spot BTC ETFs had net outflows of around $201 million on 11/9 (IBIT around -$213 million), and ETH ETFs around $185 million (ETHA around -$119 million), marking another day of net outflows on the first trading day of the new week.
U.S. October CPI will be released tonight at 21:30 Beijing time. The market widely expects month-over-month inflation of around +0.3% and core inflation of around +0.2%; due to last year’s government shutdown during the same period, the BLS will not publish year-over-year figures this time. PPI is due Friday.
Sources: Binance spot, Strategy’s official ledger, Farside Investors, Yahoo Finance, the BLS schedule, and Reuters/Dow Jones surveys. Not investment advice. #比特币 #ETF #CPI
Midday fund flows | ETFs continue to see outflows in the new week, with greater pressure on ETH
Farside data, U.S. spot ETFs on 11/9: · BTC ETFs saw net outflows of about $201 million, including about $213 million from IBIT, while MSBT saw a modest inflow of about $22 million · ETH ETFs saw net outflows of about $185 million, including about $119 million from ETHA, and about $20 million each from ETHB and FETH
Daily outflows from ETH ETFs are now close to those from BTC ETFs, despite ETH's much smaller market size, meaning it faces greater relative pressure. This is also consistent with ETH's noticeably steeper losses than BTC over the past few days.
Market snapshot (Binance spot, around 13:08 Beijing time): $BTC around 74,776 (24h +0.24%), with an intraday range of about 73,750–75,568; $ETH around 2,124 (24h -0.46%), with a low of about 2,083. SOL around 86.2 (-1.06%), BNB around 690 (+0.40%).
U.S. October CPI will be released tonight at 21:30 Beijing time. Against a backdrop of sustained ETF outflows, the inflation data could amplify short-term volatility, so take care to manage position sizes and leverage.
【Morning Market Snapshot | CPI Day】 $BTC is currently around 75213 (24h -0.18%), and $ETH around 2132 (-0.59%). Asian session trading was range-bound, with BTC’s daily low around 73750 and high around 75600; SOL around 86.8 (-1.1%), and BNB around 692 (+0.3%).
Flows: Farside reported net outflows last week (11/2–11/6) of around $1.282 billion from U.S. spot BTC ETFs and around $365 million from ETH ETFs. Data for major products on 11/9 is not yet complete, so no conclusions are being drawn for now.
Today’s focus: U.S. October CPI (BLS) will be released at 21:30 Beijing time, along with real earnings. PPI is also due Friday, 11/13. The macroeconomic data may affect interest rate expectations and volatility in risk assets, so watch for increased intraday volatility.
Evening Briefing | Before US markets open, $BTC is around 74,823 (24h: -1.59%), with an intraday range of 73,510–76,200; $ETH is around 2,121 (-5.34%), with a low near 2,060, and remains relatively weak against BTC.
US stock futures (Yahoo): S&P 500 around +0.9%, Nasdaq around +1.0%, and Dow around +1.1%. Risk appetite has improved somewhat, but ETH is still recovering slowly.
Flows: Farside’s latest full day is still 11/6—net outflows of around $412 million from spot BTC ETFs and $93 million from ETH ETFs. This week (11/2–11/6), totals were around $1.282 billion / $365 million. Full flow data for 11/9 is not yet available.
Looking ahead: Watch for US October CPI tomorrow evening Beijing time (BLS, 11/10 08:30 ET); PPI is also due Friday. Volatility may increase around the releases, so keep an eye on positions and liquidity.
【Institutional perspective at dusk】Before the U.S. market opens, $BTC is currently around 74595 (-1.76%), nearing Strategy’s disclosed cost basis (about $75,451 per coin; holdings of 849,327 BTC). $ETH is around 2124 (-5.08%), showing more pronounced relative weakness; SOL and BNB are also weaker.
Fund flows: Farside’s latest figures are still for 11/6—spot BTC ETFs saw net outflows of about $412 million, and ETH ETFs about $93 million. This week (11/2–11/6), the totals were about $1.282 billion/$365 million. Ahead of the new week’s open, institutional positioning appears cautious.
Outlook: October CPI will be released tomorrow at around 21:30 Beijing time, followed by PPI on Friday. Inflation readings could affect the dollar, Treasury yields, and the pricing of risk assets.
【Midday Market Update】Funding flows are quiet, and spot prices continue to slide
Compared with the early session, $BTC fell further from around 75,500 to about 74,630 (24h -1.66%), while $ETH was around 2,134 (24h -4.60%); relative strength remains weak. SOL was around 87.2 (-2.40%), and BNB around 687.6 (-1.27%). BTC hit an intraday low of around 73,510, while ETH fell to around 2,060, before recovering slightly. However, prices remained under pressure at midday.
Funding flows: The latest trading day for U.S. spot ETFs was still 11/6 (no new data over the weekend). Farside showed net outflows of around $412 million from BTC ETFs and around $93 million from ETH ETFs that day. For the week (11/2–11/6), net outflows totaled around $1.282 billion and $365 million, respectively. There have been no new institutional inflows to offset selling pressure.
The BLS will release October CPI tomorrow (11/10), followed by PPI on Friday (11/13). With a period of macroeconomic volatility approaching, the near-term focus is on monitoring price swings and trading volume.