Bitcoin ETFs saw $1.28 billion in weekly outflows, with BlackRock's IBIT leading the decline as Bitcoin dropped below the $74,400–$75,000 support range.
Bitcoin fell below $76,000 and traded at $74,049, below the $74,400–$75,000 support range whose break Bitfire says could trigger further selling. US spot Bitcoin ETFs saw $1.28 billion in weekly outflows, the largest since late June, with fear-greed at 25 and a negative Coinbase Premium. Upcoming US inflation data and Fed signals could stabilize or worsen the move.
IBIT recorded $1.21 billion in net outflows last week, about 95% of the weekly total, extending its losing streak to six consecutive sessions with roughly $1.44 billion pulled since Oct. 30. Continued redemptions signal sustained selling pressure, and the underlying Bitcoin sits below key support at $74,400–$75,000.
Fidelity's FBTC drew about $93 million in net inflows for the week despite losing nearly $200 million on Thursday, contrasting with IBIT's heavy outflows. The modest net inflow suggests no clear directional pressure on the fund itself, though it tracks the same falling Bitcoin price.
US spot Bitcoin ETFs recorded $1.28 billion in net outflows last week, marking the largest weekly withdrawal since late June. BlackRock's IBIT accounted for 95% of the total, with $1.21 billion in outflows, as Bitcoin fell to $74,049 amid broader market uncertainty and a $6.3 billion Binance hack.
Traders are reacting to the Binance $6.3 billion hack, uncertainty after the US midterm elections, a tech-stock sell-off, and heavy ETF outflows — $1.28 billion left US spot Bitcoin ETFs last week.
The $74,400–$75,000 support range; Bitcoin traded at $74,049, and a sustained break below it could lead to further selling, per Bitfire Research.
About $1.44 billion has been pulled since Oct. 30, including $1.21 billion last week, across six consecutive trading sessions of outflows.
Yes, the article describes BlackRock's iShares Bitcoin Trust as the world's largest spot Bitcoin ETF by assets, but it accounted for about 95% of last week's outflows.
No, FBTC recorded about $93 million in net inflows for the week, even though it lost nearly $200 million on Thursday alone.