Analyst: ETF Net Outflows and Macroeconomic Data Suppress Sentiment, Bitcoin's "Mild Rebound" Continues

BlockBeats News, November 25th, Bitcoin continued to rebound to around $88,000, and the entire crypto market cautiously rose ahead of a series of postponed U.S. macro data releases. This week, BTC has been fluctuating in the $85,000–$89,150 range, continuing the weekend's upward trend, and the cryptocurrency's total market cap has returned to around $3.07 trillion. Ethereum remained stable around $2,900, Solana rose by nearly 6% to around $136, supported by continued rotation inflows into spot ETFs.

However, the overall market sentiment remains cautious, with large-cap coins leading the rebound, while mid-cap tokens continue to underperform after a significant deleveraging last week. Monday's ETF data once again showed differentiation:

Bitcoin ETF saw a net outflow of $151 million in a single day, continuing the weeks-long risk-off trend;
Ethereum ETF saw a net inflow of $97 million;
Solana ETF saw a net inflow of $58 million;

Of particular note, the Solana ETF has maintained a net inflow for 20 consecutive days since its launch, completely contrary to market sentiment. Nevertheless, the overall crypto fund market remains under pressure. In the past week, global crypto ETPs saw a massive net outflow of $1.9 billion, marking the third-largest single-week outflow since 2018.

Timothy Misir, Head of BRN Research, stated that this reflects a broader risk pattern: Bitcoin continues to be the primary "risk-off" tool, while ETH and SOL have become structural rotation targets for long-term capital.