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Bitcoin ETFs record sixth straight day of net outflows
Bitcoin exchange-traded funds (ETFs) registered a sixth consecutive day of net redemptions, with cumulative outflows surpassing $2.05 billion. Data from SoSoValue shows $137 million left the ETF complex on November 5, continuing a streak that began October 29. The run of withdrawals has coincided with renewed downside pressure on BTC and a period of muted trading activity across the sector.
Key metrics: who is moving money?
Trading was subdued: only half of the twelve ETF issuers reported transactions for the day. Fidelity’s FBTC led the inflows, drawing $113 million, while Ark & 21Shares’ ARKB added another $83 million. Grayscale, Bitwise and VanEck also recorded modest net purchases across their funds, signaling selective appetite among buyers.
Despite pockets of demand, large outflows from BlackRock’s iShares Bitcoin Trust (IBIT) dominated the picture. IBIT alone saw $375 million withdrawn, overwhelming positive flows at rival issuers and extending the overall outflow streak. The concentration of selling pressure in a single flagship product highlights how quickly sentiment can shift among institutional holders of spot Bitcoin ETFs.
Bitcoin price action: recovery to $103,000 but momentum remains fragile
Bitcoin (BTC) traded near $103,000 after recovering from an intra-session low close to $99,000. The bounce has not yet produced the conviction markets need to reverse bearish sentiment: BTC is down roughly 7% on the week, and trading volumes point to cautious participation from both retail and institutional players.
Bitcoin price chart amid ETF outflows
Market participants are watching the $106,000 zone closely. That level, which acted as support earlier in the year, has flipped to resistance and may cap upside if demand remains weak. A failed breakout above $106,000 increases the risk of another move back below $100,000, particularly if large holders stay sidelined.
Recent history and technical backdrop
The current ETF outflow episode began as Bitcoin slipped below $110,000 at the end of October. Earlier in the cycle, dips below that threshold were met with rapid recoveries and a fresh leg of price discovery that pushed BTC to highs near $126,200. This time, the decline extended to about $99,000 before the latest rebound — but follow-through buying has been limited.
Technically, BTC now appears to be range-bound between roughly $99,000 and $106,000. Large investors — the so-called whale cohort and institutional allocators — have shown little appetite for decisive directional trades, which suggests volatility may persist until a clear macro or on-chain catalyst emerges.
What this means for traders and investors
Short-term traders should expect choppy sessions and focus on tight risk management around the identified support and resistance bands. Long-term investors will likely monitor ETF flows as a gauge of institutional allocation trends: prolonged outflows could weigh on near-term price action, while renewed inflows would signal returning confidence in spot Bitcoin exposure.
Market themes to watch include: fund-level flows across major issuers (BlackRock, Fidelity, Grayscale), order book liquidity around $100,000, and macro headlines that could trigger a directional break. Until a decisive catalyst arrives, BTC may remain confined within the current range, with the $106,000 ceiling and the $99,000 floor defining near-term risk.
Bottom line
Bitcoin ETFs extending six days of net outflows underscore a cautious market backdrop even as BTC clawed back to $103,000. With BlackRock’s IBIT driving substantial withdrawals and only sporadic inflows at rivals, the market needs stronger buying conviction before a sustained rally can resume. Traders and investors should monitor ETF flows, liquidity, and macro signals for clues about the next meaningful move in Bitcoin.
Source: crypto
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