Nov 4, 2025
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Bitcoin ETFs See $186.5M Outflows as BTC Drops to $104K
Bitcoin's rocky start to November has intensified as spot ETFs tracking the cryptocurrency experienced $186.5 million in net outflows on Nov. 3, marking the fourth consecutive day of capital exit with over $1.34 billion pulled since late October. This reflects declining investor confidence, coinciding with Bitcoin's sharp drop to $104,500, more than 8% down over the past week.
- Widespread market liquidations occurred, with over 336,000 traders affected and $1.36 billion in leveraged positions liquidated.
- Short-term Bitcoin holders have been the most active sellers since Oct. 10, influenced by prices falling below their cost basis of $107,160 for assets held 1–3 months.
- Longer-term holders (3–6 months) are showing resilience and beginning to accumulate again, potentially signaling early repositioning for a price rebound.
- However, this accumulation appears incomplete, with mid-term holders awaiting further capitulation before more aggressive entry.
- The psychological support level is around $93,561 for the 6–12 month holding group.
- Technical analysts caution that Bitcoin may test its 50-week simple moving average near $102,000, risking a deeper correction if lost.
