Key Points
- On November 10th, US spot Bitcoin ETF recorded a capital outflow of 95 million US dollars.
- BlackRock’s IBIT led the decline, with a net outflow of $78.2 million
- As selling pressure continues, Bitcoin falls to $73,000
According to the ETF funding flow data of Farside Investors, on November 10th, the US spot Bitcoin exchange-traded fund (ETF) experienced another day of net outflows, amounting to approximately 95 million US dollars. This is also the fourth consecutive trading day with capital outflows.
Bitcoin ETF Capital Flow
Hashdex Bitcoin ETF ( DEFI ) recorded a net inflow of 20 million US dollars, which to some extent offset some of the losses, but the new demand was not sufficient to reverse the overall negative trend.
Bitcoin ETF struggles to recover from November's sell-off
On November 6th, spot Bitcoin ETF experienced a net outflow of $411.9 million, followed by another net outflow of $201 million on November 9th. BlackRock's IBIT faced significant selling pressure, and there was a large amount of capital outflow over the past eight trading days.
Despite recent weak performance, the historical cumulative net inflow of US spot Bitcoin ETF is still around $55.47 billion, indicating that long-term institutional allocation remains substantial.
Bitcoin price drops to $73,000
Affected by the broader uncertainties in the cryptocurrency market, Bitcoin has also weakened over the past 24 hours. On November 11th, BTC traded at $73,810, and has fallen by about 0.8% over the past 24 hours.
Currently, whether Bitcoin can hold the $73,000 range and rebound to around $75,000 may be crucial for it to regain momentum.
Danielle Walgenbach
Danielle is a journalist who covers cryptocurrency and financial markets. She has over four years of reporting experience and specializes in breaking down complex financial and economic topics into clear, well-researched reports.
