#比特币价格走势分析 Analyzing this set of data, it is not difficult to see that the overall trend of the crypto market in November was sluggish. Trading volume shrank significantly, BTC price dropped from $110,000 to $86,500, and ETFs experienced massive net outflows. These indicators are all signaling negative signals.

From the perspective of capital flow, investors are accelerating their withdrawals. The $3.48 billion ETF outflow in a single month hit a new high in nearly 10 months, reflecting a cautious market sentiment. Coupled with trading volume hitting a 5-month low, it can be judged that a significant rebound is unlikely in the short term.

Next, it is necessary to closely monitor several key indicators: 1) Capital flow on mainstream exchanges; 2) Changes in holdings of large addresses; 3) Sentiment indicators in the derivatives market. If these indicators show significant improvement, it may indicate that a market turning point is approaching. Until then, it is recommended to remain cautious and control position risks.