$BTC
is losing more than ETF money. The liquidity behind the next recovery is shrinking too.
Something about this market deserves more attention than the daily price movement.
BlackRock's iShares Bitcoin Trust (IBIT) recorded approximately $269.7 million in outflows on November 11, extending its redemption streak to nine consecutive sessions. Cumulative withdrawals from IBIT during that period exceeded $2 billion.
And Bitcoin isn't facing this pressure alone. US spot Ethereum ETFs recorded another $144.8 million in outflows on the same day.
But here's what really caught my attention.
Glassnode reports that total stablecoin supply contracted by $14.2 billion over 30 days. That's important because stablecoins represent a significant source of readily available liquidity in crypto markets.
When ETF demand weakens while stablecoin supply contracts, the market potentially loses two important sources of buying power.
There's another risk worth watching: Glassnode identifies a major Bitcoin futures liquidation cluster around $60,000.
That doesn't mean BTC is guaranteed to fall there. A liquidation heatmap shows where leveraged positions could be vulnerable, not where price must go.
My concern is the combination of weakening capital flows and reduced liquidity. A market can recover from selling pressure, but it becomes harder when fresh buying demand isn't returning.
The next signal I want to see is sustained ETF inflows and stablecoin supply growth, not just another temporary price bounce.
Am I reading this correctly, or is the market underestimating the liquidity problem?
@btc #BTC #orocryptotrends
is losing more than ETF money. The liquidity behind the next recovery is shrinking too.
Something about this market deserves more attention than the daily price movement.
BlackRock's iShares Bitcoin Trust (IBIT) recorded approximately $269.7 million in outflows on November 11, extending its redemption streak to nine consecutive sessions. Cumulative withdrawals from IBIT during that period exceeded $2 billion.
And Bitcoin isn't facing this pressure alone. US spot Ethereum ETFs recorded another $144.8 million in outflows on the same day.
But here's what really caught my attention.
Glassnode reports that total stablecoin supply contracted by $14.2 billion over 30 days. That's important because stablecoins represent a significant source of readily available liquidity in crypto markets.
When ETF demand weakens while stablecoin supply contracts, the market potentially loses two important sources of buying power.
There's another risk worth watching: Glassnode identifies a major Bitcoin futures liquidation cluster around $60,000.
That doesn't mean BTC is guaranteed to fall there. A liquidation heatmap shows where leveraged positions could be vulnerable, not where price must go.
My concern is the combination of weakening capital flows and reduced liquidity. A market can recover from selling pressure, but it becomes harder when fresh buying demand isn't returning.
The next signal I want to see is sustained ETF inflows and stablecoin supply growth, not just another temporary price bounce.
Am I reading this correctly, or is the market underestimating the liquidity problem?
@btc #BTC #orocryptotrends
