Bitcoin Price Slides Back Under $90K as ETF Outflows Intensify

Bitcoin’s push toward $94,000 was short-lived, with the asset once again falling below the $90,000 level. While overall market weakness is part of the story, a major driver behind the renewed drop is the accelerating wave of withdrawals from U.S. spot Bitcoin ETFs.

 

Persistent ETF Outflows Create Selling Pressure

Fresh data from FarSide shows that BlackRock’s iShares Bitcoin Trust (IBIT) has been experiencing consistent capital outflows. The fund has seen withdrawals in 11 of the last 15 trading sessions, losing an estimated $2.65 billion during this period — a sharp reversal from the strong inflows it enjoyed earlier this year.

November 18 marked a troubling milestone, with $523.2 million pulled from the fund in a single day, setting a new record for daily net outflows. Fidelity’s FBTC is facing similar pressure, logging several large red days, including notable withdrawals of $356.6 million on November 4 and $256.7 million on November 7.

Overall, nearly $5 billion has exited U.S. spot Bitcoin ETFs since October 29.

Bitcoin Drops Over $26K in Under a Month

The heavy outflows have weighed directly on Bitcoin’s price. After trading above $116,000 late last month, the cryptocurrency has lost more than $26,000 in value. Today’s rejection near $94,000 pushed BTC firmly back under the $90,000 level, signaling continued investor caution.

Bitcoin drops under $90K again as institutional investors exit — here’s what’s happening with ETFs.

Ethereum ETFs Also Struggle to Attract Buyers

The weakness isn’t limited to Bitcoin. U.S. spot Ethereum ETFs have been consistently in negative territory since October 8. Out of 28 trading days, only six have recorded net inflows. This pattern highlights a broader trend: investors are increasingly hesitant across the entire crypto ETF market, not just BTC-focused products.

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