November has started the way October ended for the US spot Bitcoin ETFs: with money leaving. Three sessions in a row, more than a billion dollars out, and BlackRock's IBIT doing most of the selling. Meanwhile $Bitcoin is trying to hold the $76,000 to $77,000 zone after the Democrats swept the midterms. Here is what the flows are telling us.
<h2 id="what-happened-to-the-bitcoin-etf-flows-this-week">What happened to the Bitcoin ETF flows this week?</h2>
According to SoSoValue, the spot Bitcoin ETFs recorded three consecutive days of net outflows:
<ul>
 <li>30 October: $643.3 million, the largest single-day exit since late June. This was the first trading session after Binance confirmed its <a href="https://cryptoticker.io/en/comparison/hardware-wallets/" rel="noopener noreferrer nofollow">$6.3 billion hack</a>.</li>
 <li>2 November: $398.6 million, the first outflow day of the new month.</li>
 <li>3 November: $115.6 million, a much smaller figure, but still negative.</li>
</ul>
That adds up to roughly $1.16 billion in three sessions. The Ethereum ETFs added to the pain with another $139.8 million of outflows on 2 November alone.
<h2 id="who-is-selling-bitcoin-etfs">Who is selling Bitcoin ETFs?</h2>
Almost entirely BlackRock's IBIT. The fund lost $233.7 million on 30 October, $405.3 million on 2 November (more than the entire group's net figure that day) and about $95 million on 3 November. Fidelity's FBTC flipped from a $201.4 million outflow on 30 October to small inflows this week, and Bitwise's BITB actually attracted $21.9 million on 3 November.
In other words: one very large allocator is cutting exposure, while the smaller funds are quietly buying the dip. The total net assets of the spot Bitcoin ETFs now sit at about $99.2 billion, roughly 6.3 percent of Bitcoin's market cap, with cumulative inflows since launch still above $56 billion.
<h2 id="why-are-bitcoin-etfs-seeing-outflows-now">Why are Bitcoin ETFs seeing outflows now?</h2>
Three things hit at once:
<ol>
 <li>The Binance hack. The biggest theft in crypto history triggered a wave of de-risking on the Friday after the breach, and ETF investors were part of it.</li>
 <li>The midterms. Markets had priced a Republican-friendly, light-touch <a href="https://cryptoticker.io/en/comparison/best-regulated-exchange/" rel="noopener noreferrer nofollow">regulatory path for crypto</a>. A Democratic House and Senate changes that calculation, and institutions hate uncertainty.</li>
 <li>Underwater holders. Bitcoin is down roughly 12 percent year to date and many ETF buyers from the first half of the year are sitting on losses, which makes every bounce a selling opportunity for them.</li>
</ol>
<h2 id="is-the-bitcoin-etf-selling-slowing-down">Is the Bitcoin ETF selling slowing down?</h2>
The trend in the numbers says yes: $643 million, then $399 million, then $116 million. The pace is clearly fading, and the inflows into BITB and FBTC show that not everyone is heading for the exit. But one shrinking outflow day is not a reversal. What would flip the picture is a string of green days above $200 million, something we have not seen since the second half of October.
<h2 id="bitcoin-price-prediction-what-do-the-flows-mean-for-btc">Bitcoin price prediction: what do the flows mean for BTC?</h2>
Bitcoin dipped to about $75,700 during the election count and has since bounced back above $77,000. The zone between $75,500 and $76,500 is the support that matters now. Hold it, and a relief rally toward $80,000 is on the table, especially if the ETF flows turn positive. Lose it, and the 200-day average near $73,000 becomes the next target, roughly 5 percent lower.
You can follow the live price on our <a href="https://cryptoticker.io/en/crypto-prices/" rel="noopener noreferrer nofollow">Bitcoin price page</a> and the broader market metrics, including liquidations and the Fear and Greed Index, on our <a href="https://cryptoticker.io/en/charts/" rel="noopener noreferrer nofollow">charts page</a>.

Bitcoin ETF Outflows Pass $1 Billion: Why Institutions Are Selling After the Midterms

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