Bitcoin ETF: What's Really Happening with the Numbers?

Bitcoin ETFs are making headlines, but not everyone agrees on what the numbers mean. BlackRock's iShares Bitcoin Trust (IBIT) has been sliding, and people are talking about it. Some say the charts showing money leaving the ETF are wrong. Others say it's just a normal market move. Eric Balchunas, a senior ETF analyst at Bloomberg, said a viral chart about IBIT was "way off. " He explained that the chart made the withdrawals look bigger than they really were. According to Bloomberg's data, the actual outflows in November were less than 3% of the total assets. Balchunas said this is just a normal pullback, not a big problem. Meanwhile, economist Mohamed El-Erian shared a report from CNBC. The report said that $2. 2 billion was pulled out of Bitcoin ETFs in November. This happened because some short-term investors got scared and left. But Balchunas' correction was about the chart, not the numbers from CNBC. Now, let's talk about the price. IBIT is in a downtrend. It broke below a key support level at $51 and then stabilized around $49. But this bounce might not last. The next big support level is around $43. 40. If the price keeps falling, it could hit that level. The technical indicators are not looking good. The RSI is near 33, which is getting close to oversold territory. But earlier recoveries happened at even lower levels, so this might not be a sign of a big reversal. The price also broke a key trendline that had been supporting it for months. Now, that line is acting as resistance. If IBIT can get back above $51. 12, it might try to climb to $55. 42 and then $58. 86. But for now, the trend is still down.