Bitcoin trading picked up, but sellers took the initiative
Summary
Glassnode’s Nov. 9 data showed Bitcoin near $75,000, but spot cumulative volume delta turned sharply negative at $92 million as trading volume rose 13.3% to $6.4 billion, indicating aggressive sellers remained dominant. U.S. spot Bitcoin funds recorded $1.282 billion in net outflows over Nov. 2–6, followed by another $201 million on Nov. 9. Futures open interest slipped to $37 billion. Glassnode identified $73,000–$76,000 as a key retest range, with a sustained break below $73,000 potentially extending consolidation. Traders were also awaiting U.S. inflation data, while regulatory concerns weighed on sentiment.
