Bitcoin ETFs bleed $866M in second-worst day on record, but some analysts still bullish

💡 DMK Insight

Bitcoin’s recent drop to $96,704 is a wake-up call for traders: ETF outflows signal waning confidence. The $866 million outflow from Bitcoin ETFs coinciding with the end of the US shutdown raises serious questions about market sentiment and demand. This kind of movement typically indicates that institutional investors are pulling back, which could lead to further price declines. For day traders and swing traders, this is a critical moment to reassess positions, especially if BTC continues to hover around this six-month low. Watch for support levels around $95,000; a break below could trigger more selling pressure. On the flip side, if BTC manages to hold above this level, it might attract bargain hunters looking for a rebound. Keep an eye on trading volumes—if they spike during a recovery, it could signal renewed interest. The next few days will be crucial; monitor the market closely for any shifts in sentiment or institutional buying that could change the current narrative.