U.S. Spot Bitcoin ETFs See $545M Daily Outflows Amid Market Slump
- ETF Outflow Situation: U.S. spot Bitcoin ETFs recorded net outflows of $544.94 million on February 4, highlighting the fragility of digital assets despite cumulative inflows of $54.75 billion over the past year, indicating a weakening market confidence.
- Key Fund Performance: BlackRock's iShares Bitcoin Trust experienced an outflow of $373.44 million on the same day, yet retains a substantial $56.21 billion in net assets, demonstrating that even amidst outflows, significant capital remains under management.
- Market Dynamics: Bitcoin's price has dropped approximately 5.5% over the past 24 hours, trading around $73,103, while the total cryptocurrency market capitalization has decreased by about 4.4% to $2.35 trillion, reflecting a prevailing risk-off sentiment in the market.
- Analyst Warnings: Citi strategists noted that the average entry price for spot ETF buyers is clustered around $81,600, suggesting that persistent outflows could push Bitcoin towards the $70,000 area, highlighting the tension between structurally high ETF ownership and cyclical demand declines.
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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 4 technical signals, shows that 1 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 | 36469.337 | 48234.669 | 61205.087 | 72970.419 | 85940.837 | 97706.169 | 110676.587 |
| Fibonacci | 48234.669 | 57683.725 | 63521.362 | 72970.419 | 82419.475 | 88257.112 | 97706.169 |
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