The day at a glance · 6 sections · 4 min read
Mood · Risk-Off
-45
Sentiment, −100 to +100
BTC Price Target
$73K
BTC Support Level
$76,000
ETH Support
1,900
Key driverBitcoin ETFs recorded largest weekly outflows since late June as macroeconomic uncertainty and tech sector volatility drove risk-off positioning across crypto markets
Daily briefCrypto & Web3· Money365.Market AI ·
Bitcoin ETFs See Record Outflows Amid Macro Headwinds
BTC tests key support near $76,000 as investors pull $1.3B from spot ETFs; Coinbase secures federal trust charter while Senate demands records
Bitcoin & Ethereum
BearishFed Hike Probability
79%
BTCETH
01
Bitcoin fell to its lowest levels since mid-August, hovering just above its 200-day moving average as price action tested the $76,000 level. The cryptocurrency is eyeing the zone amid volatility triggered by Nvidia CEO allegations and broader technology stock sell-offs.
02
Ethereum remains vulnerable to further downside as traders brace for US CPI data and developments on Iran negotiations. The cryptocurrency sold off sharply following a stock market rout that triggered risk aversion across financial markets, with technical analysis showing sellers targeting the 1,900 level and potential support at 1,500, while resistance stands at 3,400.
03
Market participants are watching for tomorrow's US CPI report, with traders already pricing in a 79% probability of a December Federal Reserve rate hike, which could seal further hawkish monetary policy and pressure risk assets including cryptocurrencies.
ETF Flows & Institutional Activity
BearishWeekly BTC ETF Outflows
$1.3B
IBIT Net Outflows
$1.21B
IBIT
01
US spot Bitcoin exchange-traded funds experienced their largest weekly outflow since late June, with investors pulling a net $1.3B from the products.
02IBIT
BlackRock's IBIT led redemptions with $1.21 billion in net outflows last week as Bitcoin fell below $76,000 and US technology stocks sold off broadly.
03
The substantial outflows reflect a sharp shift in investor sentiment as macroeconomic concerns mount, with Democratic Congressional control expected to bring greater fiscal restraint and tighter regulation on AI infrastructure investment, which could have significant consequences for the broader economy given its leverage to artificial intelligence spending.
Crypto Stocks & Corporate Developments
Bullish01COIN
Coinbase ($COIN) received a full US trust charter from a federal banking regulator, marking a significant regulatory milestone for the cryptocurrency exchange and expanding its ability to offer custody and trust services to institutional clients.
02HOOD▲ +3.21%
Robinhood ($HOOD) opened access to US initial public offerings for UK retail investors, allowing its UK customers to request shares in eligible US IPOs at the offer price before the stocks begin trading, expanding the platform's international product offerings.
Regulation & Policy
Bearish01
Senator Richard Blumenthal asked four crypto firms including Binance, Tether, and Trump-affiliated crypto companies to start sending records by November 30, warning of further action if they miss the January 4 deadline for full compliance with the Senate records request.
02
The Senate inquiry represents escalating Congressional scrutiny of major cryptocurrency exchanges and stablecoin issuers, with lawmakers seeking transparency on business practices and operations as part of broader regulatory oversight efforts targeting the digital assets industry.
DeFi & Protocol Developments
NeutralDrift Hack Size
$270M
Frozen Aave Reserve
$120M
SOLAAVE
01
Solana validators are moving to eliminate the transaction feature exploited in the $270 million Drift protocol hack, as the network takes steps to address security vulnerabilities exposed by the recent exploit.
02
The tBTC bridge partially resumed operations after operators addressed a critical Linux kernel vulnerability that forced a shutdown on October 30, though a $120M Aave reserve remains frozen as the protocol works through security protocols before full restoration.
03
Two rival Ethereum improvement proposals emerged aimed at preventing the upcoming Glamsterdam upgrade from breaking old smart contracts, as developers debate the best path forward to maintain backward compatibility while implementing network enhancements.
04
Zcash developers proposed another block time reduction just days after the NU7 upgrade, with the proposed change aiming to shorten transaction confirmation times and improve user experience for point-of-sale payments, exchange deposits, and cross-chain swaps.
Looking Ahead
Neutral01
This week's key catalyst is the US CPI inflation report due tomorrow, which could determine the Federal Reserve's path for December monetary policy and significantly impact cryptocurrency valuations through risk sentiment channels.
02
Geopolitical developments remain in focus as Trump indicated the US is unlikely to resume military action against Iran if negotiations make sufficient progress on Tehran's nuclear program and the reopening of the Strait of Hormuz, though Secretary of State Rubio said talks have made little progress with Tehran's demands described as unacceptable.
03
Additional macroeconomic data includes Thursday's US Jobless Claims figures and Friday's Producer Price Index report, which will help shape expectations for inflation trends and central bank policy heading into year-end.
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