{"id":15554,"date":"2025-11-09T14:04:52","date_gmt":"2025-11-09T14:04:52","guid":{"rendered":"https:\/\/bitunikey.com\/news\/these-patterns-point-to-a-steeper-bitcoin-price-crash-as-etf-outflows-rise\/"},"modified":"2025-11-09T14:04:57","modified_gmt":"2025-11-09T14:04:57","slug":"these-patterns-point-to-a-steeper-bitcoin-price-crash-as-etf-outflows-rise","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/these-patterns-point-to-a-steeper-bitcoin-price-crash-as-etf-outflows-rise\/","title":{"rendered":"These patterns point to a steeper Bitcoin price crash as ETF outflows rise"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Bitcoin price has plummeted into a bear market after falling by 20% from its highest level this year, and top technical indicators point to a steeper crash in the near term.\u00a0<\/p>\n<div id=\"cn-block-summary-block_2fc410e34c992e5764aee77168fbc0b1\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Bitcoin price has slumped into a local bear market this month.<\/li>\n<li>It has formed a rising wedge on the weekly timeframe chart.<\/li>\n<li>The coin has formed a bearish pennant pattern on the daily chart.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Bitcoin (BTC) was trading at $101,900 on Sunday, down substantially from the year-to-date high of over $126,300. Its market cap has dropped to about $2 trillion.\u00a0<\/p>\n<p>BTC price has plunged because of the ongoing deleveraging among investors after the significant liquidations last month. As a result, the futures open interest has plunged to $67 billion, down from a peak of $94 billion last month.\u00a0<\/p>\n<p>The coin has also plunged amid the ongoing selling by whale investors<strong> <\/strong>who have dumped coins worth billions of dollars in the past few months. Whale selling often leads to substantial selling pressure among other retail traders.\u00a0<\/p>\n<p>Meanwhile, investors have continued to dump their Bitcoin ETFs recently. Data compiled by <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/sosovalue.com\/assets\/etf\/us-btc-spot\" target=\"_blank\" rel=\"nofollow\">SoSoValue<\/a> shows that these ETFs shed over $558 million in assets on Friday. The outflow led to a weekly figure of $1.22 billion, up from the previous week\u2019s $798 million.<\/p>\n<h2 class=\"wp-block-heading\">Bitcoin price has formed a rising wedge on the weekly chart<\/h2>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">BTC price chart | Source: crypto.news<\/figcaption><\/figure>\n<p>The weekly chart suggests that the BTC price could be on the verge of a steeper dive this year. It has formed a rising wedge pattern, which is made up of two ascending and converging trendlines. It has already moved below the lower side of this wedge, confirming a potential crash.\u00a0<\/p>\n<p>Bitcoin has also formed a bearish divergence pattern. The Relative Strength Index has continued forming a series of lower lows and has now dropped below the neutral point at 50.\u00a0<\/p>\n<p>The same has happened with the Trend Strength Index, which has moved below the zero line and is pointing downwards.\u00a0<\/p>\n<h2 class=\"wp-block-heading\">BTC price has formed risky patterns on the daily chart<\/h2>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"3574\" height=\"2008\" src=\"https:\/\/bitunikey.com\/news\/wp-content\/uploads\/2025\/11\/1762697092_673_These-patterns-point-to-a-steeper-Bitcoin-price-crash-as.webp.webp\" alt=\"Bitcoin price\" class=\"wp-image-14433019\"><figcaption class=\"wp-element-caption\">Bitcoin price chart | Source: crypto.news<\/figcaption><\/figure>\n<p>The daily chart also shows that the coin has formed several risky chart patterns. It is now in the process of forming a bearish pennant, which is made up of a vertical line and a symmetrical triangle pattern. This pattern normally leads to more downside.\u00a0<\/p>\n<p>The coin also formed a double-top pattern at $124,496 and a neckline at $107,390. Most importantly, it formed a death cross pattern as the 50-day and 200-day moving averages crossed each other on November 1.\u00a0<\/p>\n<p>Therefore, the coin will likely continue falling as sellers target the key support at $98,220, its lowest level in June last year. A move below that level will point to more downside, potentially to $95,000.<\/p>\n<div class=\"cn-block-disclaimer\">\n<div class=\"cn-block-disclaimer__icon\">\n            <svg class=\"icon icon-info\" aria-hidden=\"true\"><use xlink:href=\"#icon-info\"><\/use> <\/svg>        <\/div>\n<p class=\"cn-block-disclaimer__content\">\n            Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.        <\/p>\n<\/p><\/div>\n<p><!-- .cn-block-disclaimer --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price has plummeted into a bear market after falling by 20% from its highest level this year, and top technical indicators point to a steeper crash in the near&hellip;<\/p>\n","protected":false},"author":1,"featured_media":15459,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-15554","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/15554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=15554"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/15554\/revisions"}],"predecessor-version":[{"id":15555,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/15554\/revisions\/15555"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/15459"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=15554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=15554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=15554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}