Key takeaways
- US spot Bitcoin ETFs recorded $1.28 billion in weekly outflows
- BlackRock’s IBIT led the sell-off with approximately $1.21 billion in weekly outflows
- Bitcoin fell below $76,000 amid weakening market sentiment
US spot Bitcoin exchange-traded funds (ETFs) recorded approximately $1.28 billion in net outflows during the week of Nov. 2–6. This was their largest weekly withdrawal since late June. The sell-off also pushed Bitcoin ETF flows into negative territory for 2026.
According to data from SoSoValue, the funds have now recorded approximately $919 million in net outflows this year, following another disappointing month in October.
Weekly Bitcoin ETF flows (Source: SoSoValue)
BlackRock's Bitcoin ETF Leads $1.3 Billion Exodus
BlackRock's iShares Bitcoin Trust (IBIT) accounted for the overwhelming majority of last week's withdrawals after losing approximately $1.21 billion. The fund experienced six consecutive trading sessions of outflows through Friday, with approximately $1.44 billion withdrawn since Oct. 30.
IBIT alone accounted for roughly 95% of the industry's weekly net withdrawals. Friday was especially hard after BlackRock's fund lost approximately $403 million.
Bitcoin ETF flows (Source: Farside Investors)
However, not every fund experienced selling pressure. Fidelity's Wise Origin Bitcoin Fund (FBTC) attracted approximately $93 million in net inflows during the week, despite recording nearly $200 million in withdrawals on Thursday.
Bitcoin Price Falls as Market Uncertainty Grows
The ETF withdrawals coincided with another difficult week for Bitcoin, which dropped below $76,000 as investors responded to the week’s developments. These included the fallout from Binance's reported $6.3 billion hack, uncertainty after the US midterm elections and weakness in technology stocks.
Bitfire Research also identified shifting expectations surrounding Federal Reserve interest rates and concerns about whether Congress could pass the CLARITY Act before the end of 2026 as more sources of uncertainty.
What's Next for Bitcoin?
Bitfire Research warned that Bitcoin is in a period of price discovery toward a potential market bottom, with further downside possible if important support levels failed. The firm identified $74,400 to $75,000 as a critical support zone, and warned that a sustained break below this range could trigger additional selling.
Investors will now be watching upcoming US inflation figures, Federal Reserve signals and Bitcoin ETF flows for indications of whether institutional demand can recover after one of the year's toughest withdrawal periods.
