AI and Liquidity Pressure in Markets: Bitcoin Fights to Hold $76,000 Range

Bitcoin (BTC), which declined throughout the week under selling pressure in tech stocks and sharp leverage liquidations in futures markets, moved back above the $76,000 range in search of a bottom. However, recent data from the spot ETF front highlights the disconnect between price recovery and institutional capital flows.

Spot ETFs See $411 Million Outflow on Friday

US-traded spot Bitcoin ETFs finished Friday with a net outflow of $411.9 million, remaining in negative territory for two consecutive trading days. Details of fund movements show:

• BlackRock (IBIT): Was the main source of outflows with $403 million in net redemptions.

• Fidelity (FBTC): Partially offset the pressure by recording a net inflow of $42.8 million.

As of the first week of November, cumulative net outflows from spot Bitcoin ETFs reached approximately $1.28 billion. The fact that only a single positive session was recorded throughout the month indicates that institutional investors remain cautious about viewing the recent drop as a lasting buying opportunity.

Tech Sell-Off and $1.27 Billion Liquidation

The downward trend in the crypto market paralleled sell-offs in tech stocks, triggered by cost concerns regarding artificial intelligence investments and data center spending in global markets.

As risk appetite weakened, over $1.27 billion in positions were liquidated in derivative markets over the past 24 hours. Long positions accounted for more than $1.1 billion of these liquidations, while cascading forced sales pushed price volatility to its peak.

Regulatory and Tax Pressures Mount

In addition to macroeconomic pressures, global regulatory actions are also on the market's radar:

• US Department of the Treasury: Moved to restrict crypto exchange MEXC's access to US financial institutions. Officials allege that at least $16 billion in volume linked to sanction evasion and suspicious transactions passed through the platform.

• New Tax Framework in Europe: Greece approved regulations introducing a 10% tax on crypto capital gains exceeding €500 annually. As of January 2027, a 15% tax is planned to apply to staking, lending, and DeFi income.

Critical Levels: $80,000 or $73,000?

It is stated that for the short-term recovery in the market to gain strength, the $80,000 resistance must be broken with strong volume. On the downside risk, the $73,000 level is monitored as a critical support and liquidity zone. For the bullish move to be lasting, an end to the outflow streak on the spot ETF side will remain the most important indicator.