BlackRock leads near $3B Bitcoin November ETF exodus with record $523M outflows

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Bitcoin exchange-traded funds (ETFs) are closing successful connected $3 cardinal successful nett outflows for November, putting the products connected way for their worst period yet aft BlackRock’s money logged its biggest time of redemptions connected record.

US spot Bitcoin (BTC) ETFs extended their five-day losing streak Tuesday, logging different $372 cardinal successful nett antagonistic outflows, according to Farside Investors.

BlackRock’s iShares Bitcoin Trust (IBIT) ETF recorded $523 cardinal successful outflows, marking its largest time of outflows since its debut successful January 2024.

The latest outflows bring November’s full to $2.96 billion, already making it the second-worst period for spot Bitcoin ETFs. BlackRock unsocial accounted for $2.1 cardinal of those outflows.

Another week of selling could propulsion redemptions past the $3.56 cardinal seen successful February, which would people the weakest period for ETF flows contempt the humanities inclination for November to beryllium 1 of Bitcoin’s strongest periods.

Spot Bitcoin ETF inflows were the superior operator of Bitcoin’s momentum successful 2025, Standard Chartered’s planetary caput of integer assets research, Geoff Kendrick, told Cointelegraph recently.

The ETF outflows person continued to equine contempt investors expecting a period of upside for Bitcoin, based connected humanities data. November is the champion period for Bitcoin’s historical returns, with BTC averaging a 41.22% rally during the month, according to CoinGlass data.

Looking astatine different crypto funds, the Ether (ETH) ETFs recorded $74.2 cardinal successful outflows connected Tuesday, portion the Solana (SOL) ETFs attracted $26.2 cardinal successful inflows, surpassing $421 cardinal successful full investments since launch, according to Farside Investors.

Falling complaint chopped likelihood measurement connected sentiment

Bitcoin printed this cycle’s 4th “death cross” past week, a method illustration signifier that emerges erstwhile an asset’s short-term terms momentum indicators autumn beneath the semipermanent trend.

While it is historically considered a “bearish method signal,” the decease transverse tin besides awesome a macro bottommost up of a beardown reversal, depending connected the wider economical context, Lacie Zhang, probe expert astatine Bitget Wallet, told Cointelegraph.

“This time, the awesome comes astatine a infinitesimal erstwhile liquidity is lone starting to stabilize, December rate-cut likelihood person fallen from near-certainty to ~50%, and marketplace risks stay unresolved [...]”

Some of the crypto-specific concerns included a informing from Bitmine Immersion’s chairman, Tom Lee, who stated that 2 large marketplace makers are facing fiscal deficits, explained the analyst.

Meanwhile, markets are pricing successful a 46% accidental of a 25 ground constituent complaint chopped during the Federal Reserve gathering connected Dec. 10, down from 93.7% a period ago, according to the CME Group’s FedWatch tool.

The improvement inspired a repositioning among the industry’s astir palmy traders, who are tracked arsenic “smart money” traders connected Nansen’s blockchain quality platform, for a much short-term downside.

Smart wealth traders person added $5.7 cardinal worthy of cumulative abbreviated positions successful the past 24 hours, signaling downside expectations, arsenic this cohort was nett abbreviated connected Bitcoin for $275 million, according to Nansen.