Bitcoin News Today: BTC Price Slips Below $103K Amid ETF Outflows, High Fear Sentiment

Key TakeawaysBitcoin price slipped 2.17% to $102,967, underperforming the broader crypto market (-1.77%)Spot Bitcoin ETFs recorded $278M in outflows on Nov 12, Fidelity and Ark Invest ETFs lead in withdrawalsExtreme fear sentiment dominates market, even amid positive macro news such as the U.S. government reopeningTechnical Analysis of BTC Price Movements TodayBitcoin (BTC) extended its decline over the past 24 hours, dropping 1.87% to $102,897, as persistent ETF outflows and technical breakdowns weighed on sentiment. Source: TradingViewBTC remains below key moving averages, including the 10-, 20-, 50-, 100-, and 200-day EMAs and SMAs, all showing downside bias.From the oscillators panel, the Relative Strength Index (RSI) stands at 42, indicating neutral but weakening momentum, while the Momentum (10) indicator reads –3,525, showing declining short-term strength. Meanwhile, the MACD Level (12, 26) at –2,486 reflects negative momentum persistence.Source: TradingViewETF Outflows and Institutional Deleveraging$278M was withdrawn from spot Bitcoin ETFs on Nov. 12, marking a continuation of a 30-day outflow trend. The total ETF assets under management (AUM) have fallen from $154B to $140B, reflecting a broad wave of institutional profit-taking.This reduction in institutional exposure contrasts with reported whale accumulation of 45,000 BTC this week, a sign that long-term holders may be absorbing supply while short-term liquidity pressures remain dominant. Macro and Sentiment FactorsBroader crypto market sentiment remains fragile. The Crypto Fear & Greed Index dropped to 25/100, indicating extreme fear.Even as the U.S. government heads towards a reopening after its longest-ever shutdown, positive macro-sentiment does not appear to be spreading to the crypto market.The previous week has also seen a surge in the privacy coins sector, with some privacy coins such as ZEC extending its rally to climb 7.12% in the past 24h. Other altcoins are also managing to outperform BTC and the wider market, for example, both XRP and PAXG were able to climb 1.74% and 2.43% over the past day, which begs the question, where does BTC go from here?Analysts like Denny Galindo from Morgan Stanley view Bitcoin’s current cycle as entering the “fall season,” where profit-taking often precedes deeper corrections. In contrast, macro investor Dan Tapiero maintains a long-term bullish outlook, projecting BTC could reach $180,000 later in the cycle. However, he also warned of potential 70% retracements during the next bear phase.