Traders are watching closely as major outflows from spot Bitcoin ETFs challenge market stability and test investor nerves.
Over the last week, the U.S. spot Bitcoin ETF market has faced a persistent wave of withdrawals. BlackRock’s iShares Bitcoin Trust (IBIT) led the movement, posting seven consecutive days of outflows totaling $1.66 billion since October 30. On Monday alone, IBIT lost $213 million, fueling a broader net withdrawal of $201 million across all U.S. spot Bitcoin ETFs that day. This is a sharp reversal from 2024 and 2025, when these funds saw net inflows of around $25 billion by early November.
Not all ETFs are following the same path. Morgan Stanley’s Bitcoin Trust ETF (MSBT) actually recorded $22 million in inflows on Monday, showing that investor sentiment is split even as headlines focus on outflows. The Crypto Fear & Greed Index edged up to 32, still in fear territory but recovering from last week’s 26, hinting that some traders may be seeking entry points during the market dip.
The price of $BTC has reflected these ETF outflows, dropping to $74,187 as of November 10, 2026. That’s a minor 0.01% dip over 24 hours, but more notable is the distance from its October 2025 all-time high of $126,080. Year-to-date, net withdrawals from U.S. spot Bitcoin ETFs have reached $1.1 billion, underlining a shift from previous bullish trends.
It’s not just ETF participants reducing exposure. Marathon Digital Holdings (MARA), a major Bitcoin miner, has also trimmed its BTC holdings recently. While the exact volume isn’t public, the move signals that even industry players are hedging as price stagnation and outflows persist.
Macro factors are adding pressure. With another Federal Reserve rate hike fully expected and Governor Chris Waller hinting at a possible 50-basis-point increase, uncertainty is high. BTC has diverged from stocks, moving lower as ETF outflows and rate hike fears grow.
Will institutional outflows continue to set the tone, or could selective inflows and miner moves shift momentum in the coming weeks?