CryptoQuant Analyst: Weak ETF Flows and Spot Demand, Bitcoin May Continue to Correct

TechFlow news, November 11: According to an analysis published by CryptoQuant-certified analyst Axel Adler Jr., U.S. Bitcoin ETFs have recorded cumulative outflows of $969 million over the past 5 trading days, and the 5-day fund flow indicator has declined by $766 million over the past week; in the past year, only 15% of days have been at or below this level.

The Coinbase premium is -0.14%, negative for 70 consecutive days. Adler believes that weak fund flows and U.S. spot demand together support the view that Bitcoin may continue to correct; if both turn positive, his view will change.

Source: TechFlow