Bitcoin Updates: ETF Withdrawals and Rising Short Positions Push Bitcoin Below Bearish Threshold
- Bitcoin fell below the 0.75 cost basis quantile, a key bear-market threshold identified by Glassnode, signaling renewed downward pressure. - ETF outflows surged $866.7M on November 13, with BlackRock's IBIT and Grayscale's Bitcoin Mini Trust leading redemptions amid $100,000 price drop. - Harvard's $443M IBIT investment contrasts with bearish technical signals like the "death cross," while Nansen tracks $5.7M in new short positions. - Tight futures liquidity and 46% Fed rate-cut probability amplify downs
Bitcoin Drops Below Crucial Bear-Market Level, Prompting Rethink of Bullish Sentiment
Bitcoin has slipped under the 0.75 Cost Basis Quantile,
This decline comes amid a broader downturn in digital asset markets, as
Large investors are also adjusting their approaches in response to ongoing macroeconomic uncertainty.
Bearish sentiment is being reinforced by evolving expectations around monetary policy.
Despite recent volatility, some investors believe a turnaround could be on the horizon.
The next major challenge for the market is as Bitcoin nears $94,890, a price last reached in early May 2025.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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