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Bitcoin dips below short-term holder cost as stablecoin supply shrinks $14.2B and ETFs see $1.6B outflows

Market News
12 Nov 2026, 10:38 WIB
Tokenpost
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Bearish
Bitcoin dips below short-term holder cost as stablecoin supply shrinks $14.2B and ETFs see $1.6B outflows

Bitcoin traded near $74,000 on Nov. 11, falling below the short-term holder cost basis of $75,600, indicating less profit among recent buyers. Stablecoin supply contracted by $14.2 billion, the sharpest drop since June 2022, suggesting holders are redeeming stablecoins for cash and reducing market liquidity. Additionally, U.S. spot Bitcoin ETFs experienced net outflows of $1.6 billion over 20 trading sessions, reflecting softer demand. These trends together point to weakening Bitcoin demand and liquidity, though they do not directly cause each other. Some large wallets accumulated Bitcoin, but overall activity among holders remains mixed.

Bitcoin's recent trading dynamics provide context for Pluang's market snapshot. As of Nov 12, 2026 15:11 WIB, 14 of 50 major cryptocurrencies on Pluang rose while 35 fell. Notable movers include Harmony (ONE) with a price of Rp31 and a 1-day change of +7.13%, Aave (AAVE) at Rp2,120,151 down 4.72%, and Uniswap (UNI) at Rp111,664 down 4.06%.

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