Bitcoin tests $73,000 support as ETF outflows deepen

CoinGecko data showed Bitcoin moving between $73,587 and $75,477 in the 24 hours before the Nov. 10 price reading. Bitget Wallet Research said a recent selloff cleared some speculative excess, but demand has yet to recover after losses in AI-linked technology stocks spilled into crypto markets.

In its Market Flow #3: AI’s Reality Check commentary, the firm said Bitcoin needs to hold the $73,000–$74,000 range, with more balanced derivatives positioning and sustained positive ETF flows supporting stabilization. Reclaiming and holding $80,000 would signal stronger demand, analysts said. A decisive break below $73,000 could put $68,000 in view.

The market remains affected by the Nov. 5 liquidation wave. CoinGlass recorded $954.38 million in liquidated long positions and $127.30 million in shorts. Longs made up 88.2% of the total; liquidations reached $896.18 million in the latest four hours of that snapshot, including $817.35 million in bullish positions.

ETF withdrawals have added to the strain. Farside Investors recorded $201 million in net outflows from U.S. spot Bitcoin ETFs on Nov. 9, the third negative session in a row. BlackRock’s IBIT lost $213.2 million and ARK 21Shares’ ARKB lost $9.9 million, while Morgan Stanley’s MSBT drew $22.1 million. Across the first six completed November sessions, net outflows totaled $1.4827 billion; five sessions were negative, with a $74.6 million inflow on Nov. 4. DefiLlama put stablecoin market capitalization at $289.81 billion on Nov. 10, down 1.62% over seven days and 4.57% over 30 days.

CoinShares managing director Marc des Ligneris said options markets still showed investors paying more to hedge against declines. He cited the one-month, 25-delta options skew and linked the defensive positioning to concerns about AI valuations and companies financing, supplying and buying from one another. The Bureau of Labor Statistics reported that October consumer prices rose 0.4% month over month, while core prices increased 0.3% for a third consecutive month. Bitget Wallet analysts said hotter inflation could strengthen expectations of a December rate hike; they said a durable Bitcoin recovery would still depend on improving liquidity and spot demand.