Spot Bitcoin ETFs See $240M Inflows, Hold $100K Support
U.S. spot Bitcoin ETFs snapped a six-day outflow streak on Nov. 7, posting $240 million in net inflows as institutional demand returned. BlackRock’s IBIT led with $112.4 million, followed by Fidelity’s FBTC ($61.6 million) and ARK Invest/21Shares’ ARKB ($60.4 million). Despite the reversal, November-to-date outflows total $661 million versus $3.53 billion of inflows in October. Total trading volume across the 12 spot Bitcoin ETFs rose to $4.77 billion from $4.07 billion. Bitcoin’s price dipped below $100,000 support twice this week and briefly recovered above $104,000, ending 1.9% lower at about $100,950. The market faces $586 million in 24-hour liquidations and a falling MVRV ratio near the 1.7–1.8 profit floor. U.S. spot Ethereum ETFs also ended a six-day outflow streak with $12.5 million in net inflows. JPMorgan analysts remain bullish, forecasting Bitcoin could hit $170,000 within 6–12 months if its volatility-adjusted value relative to gold improves. Traders will watch the $100,000 psychological level to gauge short-term risk and rebound potential.
Neutral
The reversal of six days of outflows and significant net inflows into spot Bitcoin ETFs signals renewed institutional interest and supports near-term market stability. However, continued November-to-date outflows, pressure from $586 million in 24-hour liquidations, and a declining MVRV ratio highlight persistent volatility. While long-term projections from JPMorgan remain bullish with a $170,000 target, short-term price movements hinge on breathing room above the $100,000 support level. These mixed signals suggest a neutral near-term outlook, with potential for rebound if key support holds but risks remain until volume and sentiment improve.