3 Signals That Could Determine Bitcoin’s Next Move: Analysts

Bitcoin dumped below $74,000 earlier today after closing five straight weeks in the red. And according to CryptosRus, the question is whether new capital can support any rebound the OG cryptocurrency makes. Bitcoin’s $76K Test Comes Down to Capital Flows In a November 9 analysis, CryptosRus pointed to approximately $1.65 billion in combined weekly outflows from spot Bitcoin and Ethereum ETFs, compared with a $212 billion expansion in the Fed’s balance sheet since its low at the end of last year. As CryptoPotato reported, BTC ETFs bled about $1.28 billion last week, with over $840 million of that coming from the last two trading days.

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