Bitcoin ETF experiences $1.2 billion in weekly outflows following the biggest daily outflow since August.
Bitcoin ETF Outflows: U.S. spot Bitcoin ETFs experienced $1.22 billion in net outflows over the past week, marking the third-largest weekly outflow since their launch, with significant single-day withdrawals of over $555 million on November 10.
Market Sentiment and Price Recovery: Despite recent outflows and macroeconomic concerns, Bitcoin's price rebounded over the weekend, rising more than 4% to reclaim the $106,000 mark, supported by positive developments such as a bipartisan bill in the U.S. Senate and a tariff dividend announcement.
Investor Caution: The cooling institutional demand for Bitcoin ETFs was attributed to macroeconomic uncertainties, including potential Federal Reserve rate cuts, strong labor data, and geopolitical tensions, which contributed to a risk-off sentiment in the crypto market.
Technical Indicators: Bitcoin's technical indicators, including the MACD and RSI, suggest a potential recovery, with the asset closing above its 50-day exponential moving average, indicating that the bullish trend may not be over.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36100.923 | 48050.461 | 60370.943 | 72320.481 | 84640.963 | 96590.501 | 108910.983 |
| Fibonacci | 48050.461 | 57321.609 | 63049.334 | 72320.481 | 81591.629 | 87319.354 | 96590.501 |
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