Bitcoin ETFs Record $866M Outflow — Second Worst Day Ever
U.S. spot Bitcoin ETFs experienced a sharp wave of withdrawals on November 13, losing a combined $866 million in a single day. The outflow represents the second largest daily loss in the history of Bitcoin exchange-traded funds, according to data from Farside Investors.
A Massive Withdrawal Despite Government Reopening
The outflow occurred just as the 43-day U.S. government shutdown finally came to an end—an event many investors hoped would inject stability back into the markets. Instead, capital continued to exit spot Bitcoin funds for the second day in a row.
The worst day on record remains February 25, 2025, when investors pulled $1.14 billion in a single session. While the latest outflow does not surpass that peak, it signals growing caution among institutional traders navigating a volatile macro environment.
Is the Bull Market in Danger? Analysts Are Divided
Despite the headline numbers, several analysts remain optimistic. CryptoQuant founder Ki Young Ju noted that the broader Bitcoin bull trend remains intact as long as the price stays above the key support level of $94,000. According to him, the market has not yet entered a confirmed bearish cycle.
“I don’t think a bear market is confirmed until we lose that level,” Ju stated, adding that he prefers to wait for confirmation rather than react to short-term movements. His comments reflect a broader view among on-chain analysts who see the recent outflows as a typical correction phase late in a bullish cycle.
Institutional Behavior Mirrors Previous Late-Cycle Patterns
Large withdrawals from Bitcoin ETFs are not unprecedented during mature bull markets. Historically, periods of profit-taking by large investors have coincided with temporary spikes in ETF outflows, followed by renewed inflows once market conditions stabilize.
For now, the ETF landscape remains highly active, with both long-term accumulation and short-term rotation influencing daily flows. Traders continue to watch the $94,000 threshold closely, as a break below it could signal a shift in market structure.
Editorial Team — CoinBotLab