US spot Bitcoin funds lost $1.28 billion last week, their heaviest weekly withdrawals since late June, and almost all of it came out of one product. Bitcoin is holding just above $74,000 on Monday, below the support band one research firm says matters.
MoneyTurkey Crypto Desk | 9 November 2026
Key points
- US spot Bitcoin ETFs posted $1.28 billion of net outflows last week, the most since late June, according to SoSoValue data reported by Cointelegraph.
- BlackRock’s iShares Bitcoin Trust lost $1.21 billion, about 95% of the total, and has now seen six straight sessions of withdrawals, according to Farside Investors.
- Fidelity’s Wise Origin Bitcoin Fund took in about $93 million on the week, so the selling was concentrated rather than across the board.
- Bitcoin was at $74,149.60 on Kraken at about 10:10 London time, down about 0.8% from the start of the UTC day.
What happened
The $1.28 billion weekly outflow pushed US spot Bitcoin ETFs to about $919 million of net outflows for the year, SoSoValue figures cited by Cointelegraph show. The funds had already lost $515 million in October.
The concentration is the story. BlackRock’s fund, the largest spot Bitcoin ETF by assets, accounted for $1.21 billion of the week’s withdrawals, according to Farside Investors data. That extended its losing run to six trading sessions and took outflows since 30 October to about $1.44 billion.
Fidelity’s fund went the other way, with about $93 million of net inflows for the week, despite a near-$200 million outflow on Thursday.
Market reaction
Bitcoin dropped below $76,000 last week against a backdrop of the Binance hack, post-midterm uncertainty and a tech sell-off, Cointelegraph reported. On Monday it was trading at $74,149.60 on Kraken at about 10:10 London time, after a low of $73,601.80 earlier in the UTC day.
Bitfire Research, in a statement shared with Cointelegraph, pointed to shifting US rate expectations, the midterm aftermath and weak tech stocks. It also said investors were reassessing whether Congress can pass the CLARITY Act before year-end, and cited a Crypto Fear & Greed reading of 25 and a negative Coinbase Premium, a sign Bitcoin was trading at a discount on Coinbase.
Why it matters
When one fund supplies 95% of a week’s outflows, the selling looks like a handful of large holders cutting exposure through the most liquid wrapper rather than a broad retreat by ETF buyers. Fidelity’s fund inflow over the same week supports that reading.
Bitfire called the market a “breakdown and bottom-seeking phase” and said a sustained break below $74,400 to $75,000 could bring more selling. Monday’s price sits just under that band. That is the firm’s view, not a forecast from MoneyTurkey.
What to watch
- Daily flows for BlackRock’s fund, and whether the six-session outflow run ends
- US consumer price data on Tuesday and Federal Reserve signals
- Whether Bitcoin gets back above the $74,400 to $75,000 band Bitfire flagged
Related on MoneyTurkey
- Crypto movers: Ether drops 6.5% as $1 billion of liquidations hits longs; Bitcoin near $74,000
- Gold holds near $4,070 as jobs data fan December Fed hike bets, with Tuesday’s CPI the next test
For information only. Not investment advice.
Sources
- Cointelegraph, citing SoSoValue, Farside Investors and Bitfire Research: Bitcoin ETFs shed $1.3B in biggest weekly outflow since late June
- Kraken Bitcoin/US dollar ticker, read 9 November 2026, about 10:10 London time
