Bitcoin (BTC) edged lower on Thursday, slipping 0.6% to $102,775 by 00:52 ET (05:52 GMT), as investors digested continued weakness in institutional demand. The modest decline came as the U.S. government officially ended its record 43-day shutdown, briefly lifting market sentiment but doing little to drive major crypto inflows.
Data from SoSoValue showed spot-listed Bitcoin exchange-traded funds (ETFs) in the U.S. recorded $278 million in outflows on Wednesday, extending the month’s trend of institutional retreat. Cumulative outflows in early November now total $1.2 billion, reflecting persistent caution among large-scale investors.
Although ETFs saw a modest $247 million inflow over the past week, this barely offset the heavy withdrawals seen since late October. The sharp capital flight followed a $500 billion market-wide crypto valuation loss in early October, which eroded confidence among treasury managers and fund operators alike.
Key figures driving Bitcoin sentiment:
- ETF outflows (Nov first week): $1.2 billion
- Recent inflows: $247 million
- Price range (Nov): $100K–$105K
- October valuation loss: $500 billion
This lack of institutional liquidity continues to cap Bitcoin’s recovery potential. Retail traders, often drawn by volatility, have also shown reduced participation as the crypto’s price remains range-bound.
Price Stuck Below $110K Barrier
Despite brief rallies, Bitcoin has failed to clear the $110,000 mark since early October, repeatedly encountering resistance around $105,000. It even dipped below $100,000 earlier in November, signaling that bullish momentum remains fragile.
Market analysts note that price consolidation near $102K reflects investor indecision. Traders await a stronger macroeconomic signal — either through improving ETF flows or renewed dollar weakness — to confirm any sustainable breakout.
With technical charts showing flat momentum and limited volume, Bitcoin may continue oscillating in a tight range through mid-November unless new capital inflows emerge.
Altcoins Gain as U.S. Shutdown Ends
While Bitcoin lagged, altcoins advanced modestly after U.S. President Donald Trump signed a temporary government funding bill, ending the longest shutdown in U.S. history.
- Ether (ETH) climbed 2.6% to $3,530
- XRP gained 4.8%
- BNB and Cardano (ADA) rose 0.9% each
- Dogecoin (DOGE) added 2%, while Solana (SOL) was unchanged
The reopening restored short-term optimism and reopened access to U.S. economic data — though analysts warn these upcoming reports could highlight the shutdown’s estimated $1.5 trillion economic cost.
With risk sentiment improving, traders remain cautious yet hopeful that the crypto market may regain steady traction if institutional inflows stabilize and broader macro data surprises to the upside.
Sources & Methodology
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