To understand whether any major buyers remain in the cryptocurrency market, it's enough to look at the latest report. According to the data, US Bitcoin exchange-traded funds (ETFs) recorded a net outflow of $869.9 million on Thursday. This marks the second-largest outflow in history, which explains why no one seems willing to buy Bitcoin—even below $97,000.

According to SoSoValue, Mini Trust led the withdrawals with $318.2 million in outflows. BlackRock's IBIT saw a net outflow of $256.6 million, while Fidelity's FBTC lost $119.9 million. Grayscale's GBTC, along with ETFs from Ark and 21Shares, Bitwise, VanEck, Invesco, Valkyrie, and Franklin Templeton, also recorded net outflows.

For reference, the largest single-day outflow occurred on February 25, 2025, when funds lost $1.14 billion.

The situation is worsened by broader uncertainty in the crypto market, triggered by a sharp shift to risk-off sentiment after news that the US Federal Reserve does not plan to continue actively cutting interest rates, contrary to expectations earlier this autumn. This increases pressure on investors, pushing them to reduce exposure to riskier assets—Bitcoin among them.

"The significant capital outflow signals risk reduction, reflecting institutional pullback amid macroeconomic noise," Kronos Research stated. "The observed outflows restrain short-term momentum but do not affect broader structural demand. However, it's important to understand that the outflow coincides with oversold conditions, opening the door for long-term investors."

Trading recommenations

Bitcoin Buyers are now targeting a return to $99,400, which would open the path to $102,400, and from there to $105,300. The furthest target is the high around $107,900, whose breakout would signal attempts to restore a bullish market. If Bitcoin falls, buyers are expected around $96,000. A move below this zone could quickly pull BTC down to $93,000, with the furthest target at $89,200.

Ethereum A clear consolidation above $3,256 opens a direct path to $3,390. The furthest target is the high around $3,529, and its breakout would strengthen the bullish trend and increase buyer interest. If Ethereum declines, buyers are expected around $3,088. A move below this zone could quickly drag ETH down to $2,920, with the furthest target at $2,756.

Chart indicators

• Red indicators represent support and resistance levels, where a slowdown or active price increase is expected.
• Green represents the 50-day moving average.
• Blue indicates the 100-day moving average.
• Light green signifies the 200-day moving average.

Crossovers or tests of the moving averages usually halt or set the market's momentum.