📉 #BTC’s implied volatility (DVOL) keeps grinding lower, a sign of structural calm. Even with the macro noise, this sustained drop highlights a market expecting contained short-term moves.
📊 #BTC Glassnode: Yesterday, US Spot Bitcoin ETFs saw a net outflow of –$93M, highlighting rising sell pressure from TradFi investors and renewed weakness in institutional demand.
🇺🇸📉 #BTC-#ETF demand stays weak. The 7-day average net flow is -281 BTC, one of the lowest since April. This shows that US spot ETFs have become net sellers.
📊👀 #BTC In October, the market absorbed between 10,000 and 16,000 BTC per day on the sell side. And yet, the price of Bitcoin remains at $113,000. Demand is high.
📊 #BTC #ETH CQ: Exchange net-spread (stablecoin netflow − BTC+ETH netflow) remains in positive territory: the 30DMA stands at +$1B, above its long-term baseline.
This indicates a dominance of net cash (stablecoin) inflows and/or net BTC and ETH withdrawals from exchanges and as a result, overall selling pressure continues to ease.