Bitfinex Says ETF Outflows Test Bitcoin at $77K

TL;DR Bitcoin recovered into the $77,000-$80,000 support band after testing its $75,839 short-term holder cost basis, but Bitfinex says the rebound remains leverage-driven. U.S. spot Bitcoin ETFs recorded $1.16 billion in net outflows from October 30 to November 2, while BlackRock’s IBIT lost $405.3 million. Bitfinex says a daily settlement below $75,839 would weaken the structure, while stronger spot demand, positive ETF flows and cooler funding would improve the recovery case. Bitfinex says Bitcoin’s recovery remains fragile after the asset briefly tested the short-term holder cost basis near $75,839 before moving back into the $77,000 to $80,000 support band. In its latest market analysis , the exchange said the rebound has been driven more by leverage than by aggressive spot buying.

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