TLDR:
- Bitcoin holds steady above $100K despite $2.7B ETF outflows this month.
- ETF outflows account for just 1.5% of total Bitcoin ETF assets.
- Analysts note price resilience may signal short-term accumulation.
- Traders eye possible $150K target if bullish structure continues.
Bitcoin has maintained its position above the $100,000 mark despite ongoing ETF outflows.
At press time, data from CoinGecko shows BTC trading at $102,321, down 0.91% in the last 24 hours. Over the past week, the asset has declined by just 0.98%, signaling resilience amid selling pressure.
Analysts note that the recent stall in outflows could shape the next directional move for the cryptocurrency.
ETF Flows Reflect Cautious Market Behavior
According to data shared by Bloomberg’s Eric Balchunas, Bitcoin ETFs have seen $2.7 billion in outflows over the past month.
He noted that this represents about 1.5% of total assets, meaning 98.5% of funds remain invested. The data suggests investors are reducing exposure but not exiting the market entirely. This pattern indicates a measured sentiment rather than a wholesale retreat.
Crypto trader Daan Crypto Trades observed that ETF flow patterns often act as short-term sentiment indicators. He noted that when large outflows occur without a price drop, the market may be forming a short-term base.
Conversely, when inflows fail to push prices higher, it can mark a local top. The analyst emphasized that watching price reaction to ETF movements provides valuable context in ongoing cycles.
Bitcoin’s current position mirrors these dynamics. Despite notable outflows and fading sentiment, the price has held firm near $100K. Market participants view this consolidation as a potential sign of absorption before the next decisive move.
Traders Debate Next Move Toward or Away From $150K
Market analyst HovWaves shared an alternative bullish outlook, suggesting Bitcoin may be setting up for an extended fifth wave higher.
His chart analysis points to a possible BTC surge toward the $150K region once the current correction phase concludes. However, he added that a deeper pullback could occur if the market confirms a local top.
In a bearish scenario, a retracement to $69K, or even near $40K, remains possible, consistent with Bitcoin’s historical drawdowns. Yet traders emphasize that holding above the six-figure mark indicates sustained institutional support despite temporary ETF outflows.
Price data from CoinGecko shows steady volume at $70.1 billion, underlining continued trading activity. As market flows stabilize, investors are closely watching whether Bitcoin can reclaim momentum or remain range-bound through November.
The post Bitcoin ETF Outflows Ease as BTC Holds $100K, Analysts Eye Price Reaction appeared first on Blockonomi.
Source: https://blockonomi.com/bitcoin-etf-outflows-ease-as-btc-holds-100k-analysts-eye-price-reaction/