Spot Bitcoin ETFs See $782 Million Outflow During Christmas Week
- Continued Outflow Trend: During Christmas week, US spot Bitcoin ETFs experienced a total outflow of $782 million, extending a six-day withdrawal streak, with analysts attributing this primarily to seasonal factors rather than a decline in institutional interest.
- Single-Day Outflow Peak: On Friday, the outflow peaked at $276 million, with BlackRock's iShares Bitcoin Trust seeing nearly $193 million exit, indicating a short-term loss of confidence in the fund.
- Decline in Total Assets: By Friday, total net assets held by US spot Bitcoin ETFs fell to approximately $113.5 billion, down from over $120 billion earlier in December, reflecting a cautious investor sentiment in the market.
- Future Liquidity Expectations: Despite the current outflow challenges, analysts expect inflows to rebound in early January as institutional investors return, and potential changes in monetary policy may further support ETF demand.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36103.034 | 48051.517 | 60373.054 | 72321.537 | 84643.074 | 96591.557 | 108913.094 |
| Fibonacci | 48051.517 | 57322.665 | 63050.389 | 72321.537 | 81592.685 | 87320.409 | 96591.557 |
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