Friday gave Bitcoin a fresh demand problem, and it is not a small number. 📰
US spot Bitcoin ETFs saw about 643.2 million dollars in net withdrawals on Friday, led by BlackRock and Fidelity funds, wiping out recent weekly inflows. Source: Hindu Business Line live market update, 2 November. ⚠️ That matters because ETF flows have become the clearest demand gauge in this market, and a single day outflow that large sits directly on top of the spot order book. Bitcoin still recovered to about 78,455 dollars that day, up 1.11 percent in 24 hours, so the recovery happened despite the outflow, not because of fresh ETF buying.
Is Friday a one day redemption, or the start of a week where ETF sellers cap every bounce? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BitcoinETF
US spot Bitcoin ETFs saw about 643.2 million dollars in net withdrawals on Friday, led by BlackRock and Fidelity funds, wiping out recent weekly inflows. Source: Hindu Business Line live market update, 2 November. ⚠️ That matters because ETF flows have become the clearest demand gauge in this market, and a single day outflow that large sits directly on top of the spot order book. Bitcoin still recovered to about 78,455 dollars that day, up 1.11 percent in 24 hours, so the recovery happened despite the outflow, not because of fresh ETF buying.
Is Friday a one day redemption, or the start of a week where ETF sellers cap every bounce? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BitcoinETF
