Bitcoin (BTC) ETFs Log Second Straight Weekly Outflow of $1.28 Billion, Worst Since June

Five Days of Withdrawals

United States spot Bitcoin (BTC) exchange-traded funds (ETFs) recorded approximately $1.28 billion of net outflows across the trading week of Nov. 2-6, a second straight week of redemptions and the heaviest since late June. Daily creation and redemption disclosures from the issuers, compiled in the publicly available ETF flow tracker, show withdrawals from Bitcoin funds on four of the five sessions. Monday, Nov. 2 opened the run with $399 million of outflows, Tuesday added $116 million, and Wednesday was the lone reprieve at $74.6 million of net creations. Wednesday's figure was the only positive session of the week, and it would have been erased several times over by Thursday alone. The pace then steepened into the back half: Thursday, Nov. 5 carried $430 million out, and Friday, Nov. 6 another $412 million. The full ledger for the week reads as follows.

The weekly ledger matters because issuers disclose creations and redemptions themselves, leaving little room for estimation. The withdrawals landed inside a broader risk-off stretch that followed the United States midterm elections, in which the Bitcoin price dropped 5.6% on Nov. 5 as crypto and equities sold off together. The prior week had already removed about $200 million, so the latest print lifted the two-week total to roughly $1.48 billion.

IBIT Carried the Selling

BlackRock's IBIT, the largest of the spot funds, carried the bulk of the selling. It shed $405 million on Monday and another $403 million on Friday, single-day totals that dwarfed the rest of the field. Fidelity's FBTC moved the other way late in the week: after close to $200 million left on Thursday, Friday delivered a net inflow of $42.8 million, the only positive print among the two largest funds. Because redemptions oblige the issuer to sell custodied Bitcoin (BTC), the daily numbers read as realized spot pressure rather than a sentiment survey. On a weekly scale, the retreat ranks second only to the week of June 22, when about $1.79 billion exited the funds.

The cumulative arithmetic moved further, and faster. Before last week began, the spot funds still carried about $450 million of net inflows for 2026; five sessions later, the year stands at roughly $830 million of net outflows. A second tally of the same disclosures, using a slightly different date convention, puts the year-to-date deficit at $914 million. The two figures differ on method, not on direction. The timing sharpens the point: the funds had returned to cumulative net inflows for the year only in late September, and gave that ground back within a single week of trading. The selling coincided with the post-midterm drawdown in risk assets, which followed Democrats winning both chambers of Congress and mounted alongside doubts about AI-related capital spending in United States equities. Between IBIT's back-to-back $400 million days and the full-year flip, last week stacked the heaviest weekly outflow since June on top of an already negative prior week.

COINOTAG's own composite readings show the market holding just above its strongest nearby floor while the fund flows turned. Spot traded near $75,800 at the time of writing, down 0.2% on the 24-hour window, with support at $75,162 scored 99 out of 100 and the first major resistance at $77,708 scored 96 out of 100 on our Bitcoin technical analysis page. Derivatives have not followed the funds out: open interest stands at $15.7 billion and the long/short account ratio reads 3.33, a book still tilted toward accounts positioned to HODL through the drawdown. Aggregate sentiment sits at 28 out of 100, in fear territory. The sequence now stands at two negative weeks for the funds; a decisive loss of the $75,162 floor, or a third straight week of redemptions, is what would force that long-leaning book to unwind.