Overview
- Bitcoin slid about $8,000 over the week to trade near $73,600 after a hotter-than-expected U.S. CPI print on Tuesday pushed yields and the dollar higher and reduced appetite for risk.
- U.S. spot Bitcoin ETFs recorded roughly $1.28 billion in net outflows in the Nov. 2–6 trading week with continued daily withdrawals into Nov. 10, signaling weakening institutional demand for spot Bitcoin.
- Crypto futures saw roughly $723–$730 million in liquidations within 24 hours after the CPI release, with about $200 million tied to Bitcoin and long positions making up the bulk of forced closures.
- On‑chain liquidity also thinned as CryptoQuant reported about $6.6 billion less USDT supply over 60 days and large holders moved or sold more than 34,000 BTC in the prior week, reducing market depth.
- Technicians warn the breakdown could push Bitcoin toward about $65,000 if support fails, while other analysts note nearby liquidity clusters between $76,000 and $77,500 that could fuel a rebound; the moves raise fresh questions about Bitcoin's role as a short‑term store of value.