Key Takeaways
- • US spot Bitcoin ETFs recorded three consecutive days of net outflows totaling roughly $1.16 billion, according to SoSoValue, with the largest single-day exit of $643.3 million on October 30.
- • BlackRock's IBIT accounted for almost all of the selling, losing $233.7 million on October 30, $405.3 million on November 2, and about $95 million on November 3.
- • Smaller funds showed mixed flows: Fidelity's FBTC moved from a $201.4 million outflow to small inflows, while Bitwise's BITB attracted $21.9 million on November 3.
- • Total net assets of spot Bitcoin ETFs stand at about $99.2 billion, roughly 6.3 percent of Bitcoin's market cap, with cumulative inflows since launch above $56 billion.
- • Bitcoin is trading near $76,000 to $77,000 with $75,500 to $76,500 cited as key support, and the 200-day average near $73,000 identified as the next downside level.
Summary
US spot Bitcoin ETFs saw net outflows for three consecutive sessions to start November, according to SoSoValue data cited by CryptoTicker.io. Outflows were $643.3 million on October 30, $398.6 million on November 2 and $115.6 million on November 3, a total of roughly $1.16 billion. The October 30 figure was the largest single-day exit since late June and came on the first trading session after Binance confirmed a $6.3 billion hack. Ethereum ETFs also recorded $139.8 million of outflows on November 2.
The selling was concentrated in BlackRock's IBIT, which lost $233.7 million on October 30, $405.3 million on November 2, which exceeded the group's net figure for that day, and about $95 million on November 3. Fidelity's FBTC moved from a $201.4 million outflow on October 30 to small inflows this week, and Bitwise's BITB took in $21.9 million on November 3. The total net assets of the spot Bitcoin ETFs are about $99.2 billion, and cumulative inflows since launch remain above $56 billion.
The article attributes the outflows to three factors: the Binance hack, which it describes as the largest theft in crypto history and which triggered de-risking; the midterm results, which it says altered expectations of a light-touch regulatory path for crypto under a Republican-led government; and underwater positions among buyers from the first half of the year, with Bitcoin down roughly 12 percent year to date. The author notes the daily outflows are shrinking but says a single smaller outflow day does not signal a reversal, and that sustained green days above $200 million would be needed to indicate one.
Bitcoin dipped to about $75,700 during the election count and recovered above $77,000. The article identifies $75,500 to $76,500 as the support level that matters, with a relief rally toward $80,000 possible if flows turn positive, and a break below exposing the 200-day average near $73,000, roughly 5 percent lower. The piece is a publisher article that states it was produced with AI assistance and reviewed by its editorial team.
The selling was concentrated in BlackRock's IBIT, which lost $233.7 million on October 30, $405.3 million on November 2, which exceeded the group's net figure for that day, and about $95 million on November 3. Fidelity's FBTC moved from a $201.4 million outflow on October 30 to small inflows this week, and Bitwise's BITB took in $21.9 million on November 3. The total net assets of the spot Bitcoin ETFs are about $99.2 billion, and cumulative inflows since launch remain above $56 billion.
The article attributes the outflows to three factors: the Binance hack, which it describes as the largest theft in crypto history and which triggered de-risking; the midterm results, which it says altered expectations of a light-touch regulatory path for crypto under a Republican-led government; and underwater positions among buyers from the first half of the year, with Bitcoin down roughly 12 percent year to date. The author notes the daily outflows are shrinking but says a single smaller outflow day does not signal a reversal, and that sustained green days above $200 million would be needed to indicate one.
Bitcoin dipped to about $75,700 during the election count and recovered above $77,000. The article identifies $75,500 to $76,500 as the support level that matters, with a relief rally toward $80,000 possible if flows turn positive, and a break below exposing the 200-day average near $73,000, roughly 5 percent lower. The piece is a publisher article that states it was produced with AI assistance and reviewed by its editorial team.
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