Bitcoin steadies near 76,900 dollars, but the money leaving ETFs and Binance has not stopped yet. 📰
CoinDesk reported on 3 November that Bitcoin steadied near 76,900 dollars after dipping to about 76,300 in the European morning, while United States spot Bitcoin ETFs lost 399 million dollars on Monday, their second straight day of outflows, with BlackRock IBIT alone shedding 405 million dollars, its largest daily outflow since June. 📉 The same report puts Binance customer withdrawals at a net 4.72 billion dollars since the exchange reopened on Sunday, up from 3.64 billion dollars that day. My reading is that price steadiness on top of heavy outflows is fragile, because the buyers who would normally absorb selling are the same ones stepping back.
Do outflows slow down before Friday jobs data, or does the steady price break first? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #CryptoNews
CoinDesk reported on 3 November that Bitcoin steadied near 76,900 dollars after dipping to about 76,300 in the European morning, while United States spot Bitcoin ETFs lost 399 million dollars on Monday, their second straight day of outflows, with BlackRock IBIT alone shedding 405 million dollars, its largest daily outflow since June. 📉 The same report puts Binance customer withdrawals at a net 4.72 billion dollars since the exchange reopened on Sunday, up from 3.64 billion dollars that day. My reading is that price steadiness on top of heavy outflows is fragile, because the buyers who would normally absorb selling are the same ones stepping back.
Do outflows slow down before Friday jobs data, or does the steady price break first? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #CryptoNews
