Bitcoin Slips Below 200-Week Moving Average as ETF Outflows Persist

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Bitcoin Slips Below 200-Week Moving Average as ETF Outflows Persist

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Bitcoin

Bitcoin fell to around $67,200 on Nov. 14 and slipped beneath its 200-week moving average. U.S. spot Bitcoin ETFs lost roughly $1.44 billion across five trading sessions through Nov. 11, and the daily RSI sits in oversold territory.

Bitcoin has fallen to around $67,200 on Nov. 14, losing more than 10% so far this week as selling continues below $70,000.

TradingView's Binance BTC/USDT charts show Bitcoin touching $66,456 before recovering toward $67,194. The weekly chart showed a 10.24% decline from an opening price near $74,851.

Bitcoin trades below its 200-week average

The 200-week simple moving average stood at $67,992, leaving price approximately 1.2% beneath the line. However, the weekly candle had not closed, so the snapshot shows an intraweek break, with confirmation dependent on where the week finishes.

Weekly momentum has weakened too. The MACD line was at 648.67, below the signal line at 917.90.

Daily RSI falls below 23

Bitcoin's daily relative strength index stood at 22.96, below the conventional oversold threshold of 30. Price also fell beneath the lower Bollinger Band at $68,654.

An oversold reading can accompany a rebound, but it does not establish that selling has finished. Trader Merlijn The Trader wrote on X: "Most will sell the pain. I’ll be bidding it at $66K,"

ETF outflows and liquidations weigh on sentiment

U.S. spot Bitcoin ETFs recorded five days of withdrawals totaling approximately $1.44 billion through Nov. 11, according to SoSoValue. BlackRock's IBIT accounted for $269.73 million of the $299.9 million withdrawn that day.

Cumulative net inflows since the funds' January 2024 launch nevertheless remained positive at $55.1 billion.

Derivatives traders also took losses. CoinGlass figures cited in Nov. 13 coverage put leveraged crypto liquidations at $1.47 billion over 24 hours, including $1.31 billion in longs.

Visible liquidation concentrations remain around $72,000–$73,000 and $75,000–$78,000, which represent estimated exposure, not confirmed buy orders or guaranteed price targets.

Source: crypto.news

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