The world's largest Bitcoin ETF has been abandoned by investors for 9 consecutive sessions — and is just 2 sessions away from its own record.
Facts: BlackRock's IBIT recorded outflows for 9 consecutive sessions through Wednesday, Nov. 11, totaling more than US$2 billion (CoinTelegraph, Nov. 12, Farside Investors data). On Wednesday alone, US$269.7 million flowed out of IBIT — around 90 percent of total outflows from U.S. spot BTC ETFs that day. IBIT's own record: 11 sessions (June 17–July 2), amounting to US$2.2 billion. So this streak is just 2 sessions away from the record.
My opinion: this is no longer about the market in general; it's about the biggest fund itself continuing to see investors leave. Flows had slowed in the previous three sessions, but picked up again on Wednesday — so the pressure hasn't eased. Bitfinex notes that slowing outflows could be an initial step toward finding a bottom, but that's not enough on its own: the condition is 3 consecutive sessions of inflows, and that hasn't happened yet. BTC is around 73,245 tonight, still below the short-term holder cost basis of around 75,700.
What I'm watching: whether today's session ends IBIT's outflow streak, or whether that 11-session record is broken.
What do you think — are investors leaving IBIT to rotate into other funds, or are institutions actually reducing their exposure?
This is my analysis, not financial advice — always DYOR.
#ETFBitcoin #IBIT $BTC
Facts: BlackRock's IBIT recorded outflows for 9 consecutive sessions through Wednesday, Nov. 11, totaling more than US$2 billion (CoinTelegraph, Nov. 12, Farside Investors data). On Wednesday alone, US$269.7 million flowed out of IBIT — around 90 percent of total outflows from U.S. spot BTC ETFs that day. IBIT's own record: 11 sessions (June 17–July 2), amounting to US$2.2 billion. So this streak is just 2 sessions away from the record.
My opinion: this is no longer about the market in general; it's about the biggest fund itself continuing to see investors leave. Flows had slowed in the previous three sessions, but picked up again on Wednesday — so the pressure hasn't eased. Bitfinex notes that slowing outflows could be an initial step toward finding a bottom, but that's not enough on its own: the condition is 3 consecutive sessions of inflows, and that hasn't happened yet. BTC is around 73,245 tonight, still below the short-term holder cost basis of around 75,700.
What I'm watching: whether today's session ends IBIT's outflow streak, or whether that 11-session record is broken.
What do you think — are investors leaving IBIT to rotate into other funds, or are institutions actually reducing their exposure?
This is my analysis, not financial advice — always DYOR.
#ETFBitcoin #IBIT $BTC