Key Insights
- The US Spot Bitcoin ETF has recorded an outflow of over $903 million on Thursday.
- BlackRock Bitcoin ETF has recorded its highest weekly outflow over the past four sessions.
- Bitcoin price slipped 10% to $82k, with analysts highlighting a key support level to watch ahead.
The US Spot Bitcoin ETF has recorded a massive outflow on November 20, marking its second-highest outflow since launch.
Notably, this selloff comes as Bitcoin price faces massive selling pressure today, losing around 10% from its value in the past 24 hours.
The latest decline in the price of BTC could be attributed to continuing selling pressure by the institutions.
In addition, other Bitcoin news showed that the large holders or whales are also aggressively selling their holdings, which has further dampened the broader market sentiment.
It’s worth noting that the BlackRock Bitcoin ETF has recorded its highest weekly outflow through the first four days of the week.
This suggests that the institutions are on a selling spree, which in turn reflects a waning risk-bet appetite of the top players in the space.
As Bitcoin USD price fell below the $82,000 mark today, calls of a further drop are gaining traction.
It’s worth noting that $82k marks a major support for BTC, losing which could further intensify the selling pressure in the market.
US Spot Bitcoin ETF Sees Record Outflow
According to Farside Investors’ data, the US Spot Bitcoin ETF has recorded an outflow of $903.2 million on Thursday, November 20.
This marks the second-highest single-day outflow by the investment instrument, following $1.11 billion outflow recorded on February 25, 2025.
BlackRock Bitcoin ETF IBIT contributed the most to the negative fund flow on Thursday, with an outflow of $355.5 million.
This was followed by Grayscale’s GBTC and Fidelity’s FBTC with $199.4 million and $190.4 million outflows, respectively.
It’s worth noting that over the past four days this week, the US Spot Bitcoin ETF has recorded a combined outflow of $1.45 billion.
Only on November 19, the investment instrument saw a slight inflow of $75.4 million.
Meanwhile, CryptoQuant CEO Ki Young Ju has also highlighted the waning interest of the institutions.
Besides, he also noted that the BlackRock Bitcoin ETF has recorded its highest weekly outflow over the past four trading sessions.
From November 17 to 20, the combined outflow of IBIT was recorded at $1.02 billion. These negative fund flow trends have dampened the broader market sentiment, while also contributing to the latest crypto market losses.
What’s Next for Bitcoin Price?
In the latest Bitcoin news, BTC price has lost nearly 10% of its value and slipped to as low as $81,653 in the last 24 hours. It has recorded a slight recovery at the time of writing and traded near $83,000.
On the other hand, Bitcoin trading volume from yesterday rose 50% to $121 billion, suggesting a heightened selling pressure in the market.
Besides, Bitcoin price was down around 14% over the past week and around 23% in the monthly chart.
The loss comes in tandem with the waning institutional interest, as evidenced by the robust outflow from the US Spot Bitcoin ETF.
In addition, the broader crypto market sentiment is also at the “extreme fear” zone now, with the fear and greed index reading at 11.
Amid this, analyst Ali Martinez said that Bitcoin price has a major support at $82,000.
Having said that, if BTC price loses the support, it could witness another correction, potentially dragging down its price to the next major support at $77k.
Considering these aspects and the heightened volatile scenario in the market, investors should exercise due diligence while putting their bets into the market.