cryptocurrency markets decline as bitcoin and ethereum face outflows

Cryptocurrency markets are experiencing a downturn, with Bitcoin and Ethereum ETFs facing significant outflows. Recent data indicates a 10.5% decrease in large transaction volume, while the number of transactions exceeding $100,000 fell from 8,371 to 7,820. Despite a 3.3% increase in daily active addresses, netflows on exchanges plummeted by 60.5%. In the last 24 hours, 60,197 traders were liquidated, totaling $196.67 million, marking the highest level of liquidations since late August. Market analysts suggest that Bitcoin holders who bought between $47,000 and $64,000 are under pressure, with only 27.6% currently in profit. This situation may lead to increased selling if the market continues to decline. The accumulation trend score for Bitcoin is nearly zero, indicating that market participants are either distributing their holdings or not accumulating. The overall sentiment in the market remains cautious, with many traders waiting for a turnaround. The current market conditions have led to a sense of frustration among investors, as they have been anticipating new highs for Bitcoin for six months, yet have only seen sideways movement and declines. Historical comparisons show that previous waits for market recoveries have been significantly longer, suggesting that patience may be required. Looking ahead, the influence of Bitcoin as an institutional asset class will be a focal point at the upcoming Future of Digital Assets event on November 19. As regulatory debates continue, the market's resilience will be tested, and the outcomes of these discussions could shape the future of cryptocurrency investments.