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Bitcoin faces market headwinds amid ETF outflows and inflation concerns
Bitcoin is experiencing significant market volatility, trading within a range between $80,000 and $85,000. While spot buying and improved market sentiment have provided some price support, several macroeconomic and technical factors are limiting upward momentum.
US inflation concerns, specifically regarding the Consumer Price Index (CPI) and Producer Price Index (PPI), remain a primary headwind. Higher-than-expected inflation data has increased expectations for sustained high interest rates, with market participants pricing in a significant probability of further rate hikes by the Federal Reserve in December.
Financial markets have also seen a shift toward risk-off sentiment, contributing to substantial outflows from Spot Bitcoin ETFs. On a recent Thursday, total outflows from these funds reached $635.6 million. Notable contributors to this trend included BlackRock’s iShares Bitcoin Trust, which saw outflows exceeding $254 million, and Fidelity’s Wise Origin Bitcoin Fund, which experienced approximately $218 million in outflows.
In the derivatives market, despite a recent liquidation event where long positions accounted for 87.7% of $423.77 million in total liquidations, open interest and funding rates remain elevated. This suggests continued demand for leveraged positions even as the spot market faces selling pressure.
Entities
Binance · Bitcoin · BlackRock · CoinShares · Coinbase · FINMA · Federal Reserve · Fidelity · OANDA
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Swiss regulator FINMA approved the country's first Bitcoin ETF for retail investors. news.trijo.co
- [○ 1 SOURCE] Total outflows from Spot Bitcoin ETFs reached $635.6 million on a Thursday. www.it-boltwise.de
- [○ 1 SOURCE] BlackRock’s iShares Bitcoin Trust saw outflows exceeding $254 million. www.it-boltwise.de
- [○ 1 SOURCE] Fidelity’s Wise Origin Bitcoin Fund experienced approximately $218 million in outflows. www.it-boltwise.de
- [○ 1 SOURCE] Jamie Coutts suggests Bitcoin could reach $100,000 if it clears the $85,000–$86,000 resistance. coinpedia.org
- [○ 1 SOURCE] Long liquidations accounted for 87.7% of $423.77 million in digital asset derivatives liquidations on a specific day. www.blockmedia.co.kr
- [● 7 SOURCES] Bitcoin is trading in a range between $80,000 and $85,000. blockchainseoul.kr · www.tokenpost.kr · thecryptocurrencypost.net · www.blockmedia.co.kr · en.bitcoinsistemi.com · +2 more
- [● 2 SOURCES] US inflation concerns and interest rate hike expectations are limiting Bitcoin's upside. blockchainseoul.kr · en.bitcoinsistemi.com