Overview
- U.S. spot bitcoin ETFs logged about $524 million in net inflows on Nov. 11, their best day in over a month, lifting price back toward $105,000.
- The market remains range-bound around $102,000–$106,000, with technicians eyeing support near $102,000 and a potential falling‑wedge breakout above roughly $106,000–$107,000.
- On-chain data show newer large holders realized more than $1.3 billion in losses over six days, and reports highlight faster distribution by long‑term holders.
- Macro crosscurrents persist, with the Fed’s path uncertain, a recent SOFR plunge stoking liquidity worries, and the shutdown’s end awaiting a House vote after Senate passage.
- Morgan Stanley’s Denny Galindo advised investors to take profits in a “fall season,” even as ETFs’ total U.S. assets top roughly $137 billion and some analysts keep targets as high as $130,000–$150,000.