Analysis:ETF Outflows and weak U.S. spot demand may prolong Bitcoin’s correction
BIBIBI
AT A GLANCE
A CryptoQuant Verified Author said ETF outflows and a negative Coinbase premium point to weak Bitcoin demand, and the market may remain in a correction.
Article
Analysis:ETF Continued outflows and weak U.S. spot demand may prolong Bitcoin’s correction
BlockBeats reports,November 11, CryptoQuant Verified Author Axel Adler Jr. wrote that U.S. spot Bitcoin ETF over nearly 5 trading days recorded cumulative net outflows of 969000000 USD, and the related flow indicator fell 1 over the past 766000000 USD. Over the past 1 years, only 15%of trading days saw the indicator at or below its current level, reflecting a marked weakening in fund demand.
Meanwhile, the Coinbase premium index has remained negative for 70 consecutive days and currently stands at -0.14%, one of its lowest levels in the past 1 years, reflecting weak demand in the U.S. spot market.ETF Outflows and weak U.S. spot demand are jointly pressuring the Bitcoin market, with both indicators suggesting that the market may remain in a correction. If ETF flows return to net inflows and the Coinbase premium index rises above zero, that would indicate an improvement in demand.
Original link https://m.theblockbeats.info/flash/376753
Key points
01
BlockBeats reports that CryptoQuant Verified Author Axel Adler Jr. said U.S. spot Bitcoin ETF over nearly 5 trading days recorded cumulative net outflows of 969000000 USD。
02
The report says that over the past 1 weeks, the related flow indicator fell by 766000000 USD. Over the past 1 years, only 15%of trading days saw the indicator at or below its current level.
03
The report says the Coinbase Premium Index has been negative for 70 consecutive days and currently stands at -0.14%。
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The report describes ETF outflows and weak U.S. spot demand as factors putting pressure on the Bitcoin market.
05
The report says that if ETF flows return to net inflows and the Coinbase Premium Index rises above zero, that would indicate an improvement in demand.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This report relays a CryptoQuant Verified Author’s analysis of Bitcoin demand indicators:ETF there are outflows, and the Coinbase Premium Index has also remained negative. Based on this, the author considers demand weak and says the Bitcoin market may continue to correct; this is a market assessment, not a confirmed outcome.
Why it matters to readers
ETF Fund flows and the Coinbase Premium Index are indicators used in the report to assess demand. The report suggests that flows turning positive and the premium index returning above zero could indicate an improvement in demand.
This report can be understood as an interpretation of demand signals rather than a definite price forecast. Watching the conditions cited in the report may help distinguish the current assessment from subsequent developments.
Risks and unknowns
These figures are relayed from the report; the supplied material does not provide independently verified data.
“The market may remain in a correction” is an analytical assessment and does not mean a correction is certain.
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Related concepts
Spot ETF
Directly holds the underlying assets, with its fund units corresponding to the actual assets held in custody ETF。
