Overview
- U.S. spot Bitcoin ETFs recorded about $1.28 billion in net outflows for the November 2–6 trading week, the funds' worst weekly redemptions since late June.
- A large share of the withdrawals were concentrated in a few products, with BlackRock’s IBIT accounting for roughly $400 million of Friday’s exits and Fidelity’s FBTC taking smaller flows that day.
- Price weakness coincided with a broader equity selloff tied to political and AI concerns and triggered roughly $1.26 billion in leveraged crypto liquidations, about $1.12 billion of which were long positions.
- On‑chain data show short‑term holders moving coins to exchanges at a loss even as exchange reserves fell modestly by about 10,000 BTC, producing a mix of panic selling and selective accumulation by larger wallets.
- Markets are focused on three things that could halt the slide: fresh ETF creations or inflows to absorb supply, U.S. inflation prints that could shift rate expectations, and a rebound in equity risk appetite that would restore demand for crypto.