Bitcoin ETFs Dem $1.34B Outflows as BTC Fall to $104K
Spot Bitcoin ETFs don stop di two-week streak wey dem dey get $6 billion inflow, and dem dey suffer four days wey people dey withdraw money. For Novemba 3, dem withdraw $186.5 million, so total withdraw since late October na $1.34 billion. Bitcoin ETF investors dey sell dia shares because BTC price drop 8% for the week to $104,500. Dis trigger forced liquidation of over 336,000 leveraged positions wey worth $1.36 billion inside 24 hours. On-chain data show say short-term holders (1–3 months) dey sell as price fall below their $107,160 cost basis, but 3–6 month 'smart money' start to accumulate. Technically, BTC don break below im 50-day moving average, form double-top near $124,355 and fit test im 50-week MA around $102,000; if e drop below dis levels, e fit push price go $93,561, wey be average cost for holders wey hold 6–12 months. Increasing macro risks like U.S.-China trade tensions, fear of U.S. government shutdown, and banking stress dey push traders into safe havens like gold.
Bearish
Di sharp outflows wey dey comot from Bitcoin ETFs, togede wit 8% price drop to $104K and over $1.36 billion for leveraged liquidations, dem dey show say bearish momentum dey rise for both ETF and spot markets. Technical breakdowns under important moving averages and double-top patterns reason say price fit fall further go $93,500, wey go make short-term selling pressure hard. Macro uncertainties—trade wahala, government shutdown risk, and banking problems—dey push money go safer assets, so demand for Bitcoin ETF dey reduce. For long term, if BTC fit get support near 50-week MA wey near $102K or the cost basis for mid-term holders, stable accumulation fit show, but near-term outlook still bad for BTC price.