Market check before the weekend.
$BTC is around $69,600 on Binance, down about 4% today after dipping to $67,568 earlier. Fear & Greed sits at 20, extreme fear. US spot BTC ETFs have now seen six straight sessions of net outflows, roughly $1.5B in total per Farside. And MSCI confirmed Strategy will be dropped from its indexes after the Nov 30 close, so tracking funds have to sell MSTR shares by then. That doesn't force Strategy to sell any bitcoin, but it can make raising cash for new buys harder.
My view through Sunday, Nov 15: weekend liquidity is thin, so my base case is chop between $67,500 and $72,600 for now. A daily close above $72,600 (today's high) would tell me the flush is done, and I'd look for $74,000 next. A daily close under $67,500 opens the $65,000 area. Extreme fear has often shown up near short-term lows, but it's not a timing tool. I stay neutral-to-bearish until ETF flows turn green.
What would change my mind: two green ETF days in a row.
#Bitcoin #MarketUpdate #BitcoinETF #CryptoMarket
Not financial advice.
$BTC is around $69,600 on Binance, down about 4% today after dipping to $67,568 earlier. Fear & Greed sits at 20, extreme fear. US spot BTC ETFs have now seen six straight sessions of net outflows, roughly $1.5B in total per Farside. And MSCI confirmed Strategy will be dropped from its indexes after the Nov 30 close, so tracking funds have to sell MSTR shares by then. That doesn't force Strategy to sell any bitcoin, but it can make raising cash for new buys harder.
My view through Sunday, Nov 15: weekend liquidity is thin, so my base case is chop between $67,500 and $72,600 for now. A daily close above $72,600 (today's high) would tell me the flush is done, and I'd look for $74,000 next. A daily close under $67,500 opens the $65,000 area. Extreme fear has often shown up near short-term lows, but it's not a timing tool. I stay neutral-to-bearish until ETF flows turn green.
What would change my mind: two green ETF days in a row.
#Bitcoin #MarketUpdate #BitcoinETF #CryptoMarket
Not financial advice.
