Bitcoin ETFs Experience Alarming $19.31 Million Net Outflows for Sixth Consecutive Day
- Outflow Trend: As of December 29, U.S. Bitcoin ETFs experienced a concerning sixth consecutive day of net outflows totaling $19.31 million, indicating a significant shift in investor sentiment that could impact Bitcoin's near-term price support.
- Major Fund Performance: Leading the outflows, Invesco's BTCO fund saw a net withdrawal of $10.41 million, followed by BlackRock's IBIT and Ark Invest's ARKB with outflows of $7.94 million and $6.66 million respectively, highlighting pressure across multiple major products.
- Market Dynamics Analysis: The outflow trend coincides with year-end portfolio rebalancing and tax-loss harvesting, intensifying risk-off behavior among investors, which may affect Bitcoin's integration into traditional portfolio strategies.
- Liquidity and Transparency: Despite the outflows, Fidelity's FBTC fund attracted a net inflow of $5.70 million, indicating persistent demand for Bitcoin exposure in certain channels, and this enhanced liquidity and transparency aids in improving market price discovery.
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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 | 36140.792 | 48070.396 | 60410.812 | 72340.416 | 84680.832 | 96610.436 | 108950.852 |
| Fibonacci | 48070.396 | 57341.544 | 63069.268 | 72340.416 | 81611.564 | 87339.288 | 96610.436 |
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