📊 Bitcoin ($BTC ) Market Update
Bitcoin is trading at $75,948.83, up 0.77% in 24 hours, but remains down 1.55% over 7 days and 8.35% over 30 days.
Key Highlights:
U.S. spot BTC ETFs recorded $411.92M in outflows on November 6.
Open interest dropped 6.04% to $357.26B.
RSI stands at 38.11, indicating weak momentum.
MACD remains negative.
BTC is below its 7-day and 30-day moving averages but above its 200-day SMA.
Market Outlook: BTC is showing signs of short-term stabilization, but a confirmed bullish reversal is still missing. ETF inflows and a recovery above key moving averages are important signals to watch.
Bullish Scenario:
A recovery above the short- and medium-term moving averages, supported by positive ETF inflows, could strengthen the recovery outlook.
#Bitcoin #BTC #CryptoMarket #BitcoinAnalysis #CryptoTrading
Bitcoin is trading at $75,948.83, up 0.77% in 24 hours, but remains down 1.55% over 7 days and 8.35% over 30 days.
Key Highlights:
U.S. spot BTC ETFs recorded $411.92M in outflows on November 6.
Open interest dropped 6.04% to $357.26B.
RSI stands at 38.11, indicating weak momentum.
MACD remains negative.
BTC is below its 7-day and 30-day moving averages but above its 200-day SMA.
Market Outlook: BTC is showing signs of short-term stabilization, but a confirmed bullish reversal is still missing. ETF inflows and a recovery above key moving averages are important signals to watch.
Bullish Scenario:
A recovery above the short- and medium-term moving averages, supported by positive ETF inflows, could strengthen the recovery outlook.
#Bitcoin #BTC #CryptoMarket #BitcoinAnalysis #CryptoTrading
