Key Highlights
- Bitcoin ETFs have seen constant withdrawals since October 29, totaling more than $2.05 billion, with $137 million leaving the market on November 5.
- Bitcoin has fallen by 5% in the last week, down to $98,000 at one point before slightly recovering.
- Traders are hedging for a possible fall to $80,000
Today marks the sixth day that Bitcoin exchange-traded funds (ETFs) have recorded constant outflows, with about $137 million leaving the market on November 5, 2025. According to data from SoSoValue, the total amount withdrawn during this streak has now reached more than $2.05 billion as Bitcoin (BTC) struggles to stay above the $103,000 level.
The withdrawals began on October 29, right after Bitcoin’s price dropped below $110,000, and have continued the downtrend as selling pressure builds across the market. As of this writing, the cryptocurrency is trading for $102,429, a long way from its all-time high (ATH) of $126,198, which it reached early last month, according to data from CoinMarketCap.
Fewer buyers, bigger withdrawals
As a result, trading activity has slowed across the market, with only half of the 12 Bitcoin ETF issuers recording any activity that day. Among the few that saw inflow, Fidelity’s FBTC led with $113 million, while Ark & 21Shares’ ARKB added $83 million.
Grayscale, Bitwise, and VanEck also reported smaller gains. However, these inflows were not enough to balance out the large withdrawal from BlackRock’s iShares Bitcoin Trust (IBIT), which lost about $375 million. This one fund alone made up most of the day’s total outflows.
Bitcoin lost 5% in one week
Over the past week, BTC has dropped 5%. At one point, the cryptocurrency even slid down $98,000 before recovering back above $100k. Still, this rebound has not given market participants enough confidence to change the momentum.
At this moment, traders are cautious as they wait for confirmation before entering the market. About $323 million has been liquidated from the market in the last 24 hours. $61.26 million from that total came from traders who had bet on Bitcoin, according to Coinglass.
Many traders are watching the $106,000 level closely, which has now turned from a support zone into a strong barrier. Some believe Bitcoin could fall below $100,000 again if buyers do not return soon.
According to data from Deribit exchange, some are positioning for a potential drop to $80,000, with open interest in Bitcoin options exceeding $40 billion. Deribit noted a “notable surge in put options positioned near the $80,000 mark,” suggesting that more investors are hedging against deeper losses. The exchange, which handles over 80% of global crypto options, reported that the $80,000 and $90,000 put options have open interest worth over $1 billion and $1.9 billion, respectively.
Macro events add pressure to the market
Market observers, including Singapore-based QCP Capital, say the sell-off was due to macroeconomic pressures and recent comments by Federal Reserve Chair Jerome Powell, which have weakened interest in Bitcoin ETFs.
“Macro pressure filtered directly into crypto via four consecutive sessions of roughly $1.3 billion in net outflows from U.S. spot Bitcoin ETFs,” QCP Capital said in a market update.
According to Ecoinometrics, the risk of a feedback loop is growing, where ETF outflows push prices lower, leading to even more outflows. Bitcoin has now fallen more than 18% since reaching its all-time high, leaving the market searching for stability amid mounting uncertainty.
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