Bitcoin spot exchange-traded funds recorded net outflows of $1.043 billion between November 5 and 9, helping push the price below its 50-week moving average of $75,200. Over six weeks, miner MARA Holdings sold 13,597 Bitcoin for $1.1 billion to fund its pivot toward AI data centers. On November 6, 32,695 Bitcoin held at a loss by short-term holders flowed into exchanges, accounting for 89% of their net inflows, before falling to 9,900 BTC on November 9. The decline in selling pressure after losses were realized could signal a rebound, but the short-term holder MVRV falling below 1 and the possibility of a drop below $73,000 keep the bearish scenario relevant.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
