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Bitcoin’s recovery runs into rising derivatives exposure and $643 million in ETF outflows

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Image by CryptoSlate.

Bitcoin was near $77,000 on October 31 after the selloff around the Binance breach.

Key facts

Summary

01 Selected Bitcoin contracts showed higher dollar open interest in an October 31 provider reading, which does not measure margin leverage. 02 US spot Bitcoin ETFs recorded net redemptions in the completed October 30 session, offering no readout of continuous weekend demand. 03 The November 6 jobs report could alter financing expectations; stronger spot buying with restrained exposure would improve the recovery case. Bitcoin traded at $77,367 on Saturday morning, October 31.

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