Bitcoin ETF outflows hit $430 million as price sinks toward $75,000

Bitcoin retreated toward $75,000 on November 6 as another wave of institutional withdrawals weighed on cryptocurrency markets, erasing the recovery seen after the election when prices briefly reclaimed the $80,000 mark. Fresh data from Farside Investors showed that US spot Bitcoin exchange-traded funds experienced $430.2 million in net outflows on November 5. This marked a dramatic shift after a $74.6 million net inflow in the previous trading session, stoking renewed doubts about the resilience of recent demand for institutional Bitcoin exposure. The latest exodus followed a previous period of substantial inflows, particularly for Fidelity’s FBTC, which on Wednesday recorded $236.7 million in additions and managed to offset significant withdrawals from BlackRock’s IBIT.

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