Overview
- U.S. spot Bitcoin ETFs suffered roughly $1.28 billion in net outflows in the first week of November, with BlackRock’s IBIT responsible for about $1.21 billion of that total.
- Withdrawals continued on November 9 when spot Bitcoin ETFs recorded around $201 million of net outflows and IBIT alone saw approximately $213.2 million redeemed.
- Heavy ETF selling helped trigger more than $1 billion in crypto derivatives liquidations over 24 hours, with about $278 million coming from Bitcoin positions and the price falling into the mid‑$74,000s.
- U.S. spot Ethereum ETFs also recorded large withdrawals (about $184.5 million on November 9) even as institutional buyers added to holdings—BitMine bought 9,587 ETH while an Ethereum Foundation‑linked address reportedly sold 1,000 ETH—leaving on‑chain signals mixed.
- Traders are watching today’s October U.S. CPI release and Fed guidance for the next major catalyst because inflation data could change interest‑rate expectations, affect ETF demand, and determine whether current support around $72,000–$75,000 holds.