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

BTC

BTC/USDT

$79,978.39

+0.35%

$79,978.39

+0.35%

(24s)

24h Volume

$7,027,149,033.97

24h H/L

$80,200.00 / $79,545.96

Change: $654.04 (0.82%)

Long/Short

53.2%

Long: 53.2%Short: 46.8%

Funding Rate

+0.0021%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$79,967.99

▲ 0.17%

Volume (24h): -

Resistance Levels

Resistance 3$88,315.23

Resistance 2$82,260.41

Resistance 1$80,157.58

Price$79,967.99

Support 1$79,635.96

Support 2$77,509.46

Support 3$73,033.65

Pivot (PP):$79,824.58

Trend:Sideways

RSI (14):67.1

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…