Bitcoin ETFs just printed their worst outflow day since June, and that is institutional money voting with its feet. 📰
CoinDesk reported on 2 November, citing Farside Investors, that US spot Bitcoin ETFs lost 643 million dollars on Friday, their largest daily outflow since June, erasing four days of inflows, while Bitcoin held near 77,900 dollars after briefly touching 78,700 dollars in the Asian morning. 📊 My reading is that ETF holders are de-risking into the proof and the US midterm elections, not panic selling, because the price held near 78,000 dollars while the money left, yet a second heavy outflow day would tell a harsher story than one bad Friday.
Do ETF outflows matter more than the proof print for Tuesday's direction? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BitcoinETF
CoinDesk reported on 2 November, citing Farside Investors, that US spot Bitcoin ETFs lost 643 million dollars on Friday, their largest daily outflow since June, erasing four days of inflows, while Bitcoin held near 77,900 dollars after briefly touching 78,700 dollars in the Asian morning. 📊 My reading is that ETF holders are de-risking into the proof and the US midterm elections, not panic selling, because the price held near 78,000 dollars while the money left, yet a second heavy outflow day would tell a harsher story than one bad Friday.
Do ETF outflows matter more than the proof print for Tuesday's direction? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BitcoinETF
