Bitcoin ETF Outflows Top $1.28 Billion as Liquidations Exceed $1 Billion

By Elena Vasquez

U.S. spot Bitcoin ETFs recorded $1.28 billion in net withdrawals from Nov. 2 through Nov. 6, according to Farside Investors data, as Bitcoin traded below $75,000 and CoinGlass reported more than $1 billion in crypto liquidations over 24 hours.

The losses deepened Sunday. Bitcoin fell to about $73,761 before buyers pushed it above $75,000, yet the recovery failed and BTC returned below that threshold Monday, according to crypto.news price data.

On Nov. 9, Bitcoin traded near $74,500, down roughly 2% over 24 hours. Sellers reappeared near resistance levels, limiting Bitcoin's ability to sustain recent rebounds.

What did institutional ETF flows show?

BlackRock's iShares Bitcoin Trust, identified by ticker IBIT, accounted for approximately $1.21 billion of withdrawals across five trading sessions. That represented roughly 95% of the reported weekly net outflow, concentrating institutional selling in one fund.

On Friday, Nov. 6, net withdrawals reached $411.9 million. IBIT lost $403 million, while Fidelity's FBTC attracted $42.8 million; the smaller inflow could not offset withdrawals elsewhere.

Wednesday brought $74.6 million in aggregate net inflows, but Thursday produced $430.2 million in net outflows, erasing that improvement. Fund flows stayed negative through most of the week, keeping institutional demand under scrutiny.

ETF redemptions can result in bitcoin sales through fund settlement arrangements. However, daily outflow totals do not reveal the precise timing of underlying market transactions and should not be read as a timestamp for spot selling.

How large were the liquidations?

CoinGlass data showed that leveraged long positions, which gain value when prices rise, accounted for about $931 million, or roughly nine-tenths of the liquidation total. Ethereum accounted for around $455 million, compared with approximately $278 million for Bitcoin, while the largest single closure involved an ETH position worth roughly $48 million.

Exchanges close leveraged positions when collateral no longer meets margin requirements. That process can add selling pressure when many traders lose simultaneously, and last week's ETF withdrawals also coincided with substantial selling across cryptocurrency futures.

Ethereum fell below $2,100 Sunday before recovering above $2,130, leaving both major cryptocurrencies under pressure. The aggregate liquidation figure does not show how much of the resulting selling reached spot markets.

Did Iran drive the decline?

Investors assessed stalled negotiations between Washington and Tehran as renewed uncertainty weighed on risk-sensitive assets. U.S. Secretary of State Marco Rubio described Iranian demands as “outrageous” and said negotiations had made little progress.

Unresolved concerns included the conflict's effect on energy supplies, shipping disruptions and exports. Those risks can raise oil-price and inflation expectations, adding another source of uncertainty for traders.

Bitcoin has traded alongside other risk-sensitive assets during recent market stress. Available price moves do not establish how much of Sunday's decline resulted directly from Iran, so attribution without timing evidence would overstate the evidence.

What do the technical indicators show?

Bitcoin's daily Relative Strength Index stood near 34.56, below its moving average of 39.03 but above the conventional oversold threshold of 30. That reading pointed to limited buying momentum without confirming an oversold condition.

The MACD line stood at -1,733.10, below its -1,336.35 signal line, while the histogram registered -396.75. Together with a sequence of lower highs and lower lows, the readings showed weak momentum.

Crypto analyst Ali Martinez pointed to Bitcoin holding its 200-day simple moving average during the recent decline, which he associated with a possible rebound. A moving-average hold may support sentiment, but it does not establish that buyers will return.

More Crypto Online identified the 50-week moving average as resistance, with another level near $78,186. The same assessment placed immediate resistance around $75,600, the recent swing low near $73,692 under scrutiny, and a lower support region between $71,252 and $67,868.

A Nov. 7 crypto.news market assessment had identified $75,000 as important while fund withdrawals continued. These chart levels identify reference points, not guaranteed trading outcomes.

What is the next checkpoint?

Investors await the October U.S. Consumer Price Index report, scheduled for Tuesday, Nov. 10, at 8:30 a.m. Eastern Time, according to the Bureau of Labor Statistics. The release is the next scheduled macroeconomic event, while ETF redemptions and derivatives liquidations remain the immediate channels of market pressure.

This article provides educational information only and does not constitute investment advice. The next verifiable checkpoint arrives at 8:30 a.m. ET on Nov. 10, when the BLS publishes the October CPI report.