Bitcoin ETF Outflows Are a ‘Contrarian’ Buy Signal: Santiment

BTC

BTC/USDT

$63,112.05

+0.11%

$63,112.05

+0.11%

(24s)

24h Volume

$2,113,393,849.52

24h H/L

$63,175.00 / $62,968.45

Change: $206.55 (0.33%)

Long/Short

68.1%

Long: 68.1%Short: 31.9%

Funding Rate

+0.0034%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$63,100.89

▲ 0.02%

Volume (24h): -

Resistance Levels

Resistance 3$64,507.45

Resistance 2$63,879.31

Resistance 1$63,135.87

Price$63,100.89

Support 1$62,993.17

Support 2$61,814.38

Support 3$61,056.47

Pivot (PP):$63,064.66

Trend:Downtrend

RSI (14):43.3

Cointelegraph Staff

(06:55 AM UTC)

1 min read

Reviewed byDavid Kim

0 comments

The recent streak of outflows from US-based spot Bitcoin ETFs, totaling more than $1 billion over the past trading week, suggests a potential buying opportunity for the world’s largest cryptocurrency, according to crypto sentiment platform Santiment.

“Santiment's analysts read these flows as a counter-indicator, since ETFs disproportionately reflect retail conviction rather than smart money…