Bitcoin enters profit-taking phase with significant support around $77K.
On November 21, 2025, U.S. spot Bitcoin ETFs saw $238 million in net inflows, primarily driven by Fidelity’s FBTC with $108 million. Spot Ether ETFs experienced a significant recovery, posting $55.71 million in net inflows after eight consecutive days of outflows.
These inflows suggest renewed investor interest in both Bitcoin and Ether, despite ongoing market fluctuations.
In addition to Bitcoin and Ether, Solana’s spot ETFs also recorded inflows, reaching $10.58 million. This marks a positive shift for Solana following a period of low demand. BlackRock, a major player in the space, sold off $53.7 million in Ethereum during this time.
The broader ETF market performance, driven by increased spot demand, indicates strong institutional and retail interest.
Bitcoin’s price is currently undergoing a profit-taking phase, as seen through the PnL Index, which tracks profit and loss based on wallet cost basis.
This market behaviour aligns with classic cycle theory, suggesting that the market is transitioning into a potential bear phase. However, this trend may be overridden by macro liquidity, similar to what occurred in 2020 when market conditions shifted dramatically.
Bitcoin’s price is finding significant support near the $77,000 range, with 171,617 BTC accumulated in this zone. This support level is critical for the asset’s potential to maintain upward momentum, despite the current profit-taking activity.
As Bitcoin continues to see price fluctuations, traders and investors will monitor key support zones, which will determine whether a bear market or another bull run will emerge.
