Bitcoin Price Analysis: BTC Struggling To Stay Above $100,000 As ETFs Amplify Selling Pressure

Bitcoin (BTC) is struggling to stay above $100,000 as over $2 billion in ETF outflows test investor confidence and conviction near the key $100,000 support ￰0￱ flagship cryptocurrency is down 1.41% during the ongoing session, trading around $99,854. Bitcoin (BTC) Struggles As Markets Turn Red Bitcoin joined US stocks on a downward trajectory as markets remain jittery about US economic ￰1￱ flagship cryptocurrency is down nearly 2% and has slipped below the $100,000 ￰2￱ reacted adversely to news of job cuts and rising US household debt. A Challenger, Gray & Christmas report confirmed the economy lost 153,000 jobs last month, the highest since 2003.

“October’s pace of job cutting was much higher than average for the month. ”The lack of official employment data due to the ongoing government shutdown has also left markets uncertain, with the report resonating with several ￰3￱ resource The Kobeissi Letter suggested that the US economy may need more interest rate cuts from the Federal Reserve. “BREAKING: US employers announced 153,074 job cuts in October, marking a +175% surge and the highest for any October since 2003, per Challenger ￰4￱ cite cost-cutting and AI as the primary drivers of these ￰5￱ need more rate cuts.” However, trading company QCP Capital noted that a rate cut in December was not guaranteed.

“Markets are now pricing 60–65% odds of a follow-up move, but the longer the blackout drags on, the more comfortable policymakers may become with pausing, which in turn keeps the dollar firm and credit conditions tight.” Bitcoin ETFs Extend Losing Streak Spot Bitcoin ETFs have reported net outflows for six consecutive days after reporting $137 million in net outflows on November 5, according to data from ￰6￱ total net outflows over the past six days currently stand at over $2 billion, further pressuring price action. However, trading activity was muted, with only half of the twelve US-listed spot Bitcoin ETFs registering investor activity. Fidelity’s FBTC reported $113 million in net inflows, and Ark 21Shares registered $83 million in net inflows.

Grayscale, Bitwise, and VanEck ETFs also reported inflows. However, these inflows were more than offset by BlackRock’s IBIT, which registered $375 million in ￰7￱ (BTC) Price Analysis Bitcoin (BTC) briefly fell below $100,000 during the ongoing session, dropping to a low of $99,170 before reclaiming $100,000 and moving to its current ￰8￱ to Thomas Perfumo, global economist at cryptocurrency exchange Kraken, demand for BTC from digital asset treasuries such as MicroStrategy has dropped significantly. Strategy’s regular BTC purchases were a key driver behind the flagship cryptocurrency’s stunning price increase. “Crypto ETFs have also experienced significant outflows, despite skewing bullish during prior months of choppy price ￰9￱ the market was stabilizing after the Oct. 10 liquidation event, this latest ‘reset’ event certainly reduced short-term risk tolerance ￰10￱ is evident by the continued retreat in altcoins in favor of assets like Bitcoin, whose market cap dominance ticked higher yet again.” BTC started the previous weekend on a bullish note, rising 0.84% on Friday and 0.56% on Saturday to settle at $111,666.

Bullish sentiment intensified on Sunday as the flagship cryptocurrency rose nearly 3% to cross $114,000 and settle at $114,548. BTC reached an intraday high of $116,410 on Monday. However, it lost momentum after reaching this level and settled at $114,087, ultimately dropping 0.40%. Selling pressure and volatility persisted on Tuesday as the price fell 1.03% to $112,906.

Bearish sentiment intensified on Wednesday as BTC fell 2.55% and settled at $110.032.