Overview
- U.S. spot bitcoin ETFs logged about $524 million of net inflows on Nov. 11 after roughly $2.8 billion of outflows over the past month.
- Market-maker Wintermute reports stablecoin balances, ETF demand and digital-asset treasuries have plateaued, pointing to thinner liquidity.
- On-chain and exchange research shows long-term holders have stepped up distribution to roughly 104,000 BTC per month.
- Technicians highlight a falling‑wedge pattern with clearance of $106,000–$107,000 needed for a bullish break, while a drop below $100,000 could deepen the correction.
- Goldman Sachs warned payrolls may have fallen by about 50,000 in October during the data blackout from the shutdown, adding policy and liquidity uncertainty.