Bitcoin ETFs Bleed $399M in Second Day of Outflows as BTC Slips to $76,500
Author: Crypffalo Research · 17:55 03/11/2026
U.S. spot bitcoin ETFs posted $398.6 million in net outflows on Nov 2, a second straight day, led by BlackRock's IBIT. BTC fell about 2.2% to around $76,500.
U.S. spot bitcoin ETFs recorded $398.6 million in net outflows on Monday, Nov 2, according to SoSoValue data. It was the second straight session of withdrawals, following roughly $643 million pulled on Oct 30.
Almost all of the selling came from BlackRock's iShares Bitcoin Trust (IBIT), which lost $405.3 million. Bitcoin slipped about 2.2% over 24 hours to around $76,500 on Tuesday.
Key takeaways
- Flows: Spot bitcoin ETFs shed $398.6 million on Nov 2, bringing the two-session total to nearly $1.04 billion.
- Biggest mover: IBIT lost $405.3 million, while Fidelity's FBTC was the only fund with inflows (+$6.7 million).
- Ethereum: Spot ether ETFs lost another $139.7 million, extending their outflow streak to six sessions.
- Prices: BTC traded near $76,500 and ETH near $2,250, both lower on the day.
- Context: U.S. midterm elections take place Nov 3, and the October jobs report is due Nov 6.
ETF flows: selling concentrated in IBIT
According to SoSoValue and TokenPost, only two funds saw any flows on Nov 2. IBIT recorded $405.3 million in outflows, while FBTC took in $6.7 million.
The remaining funds, including GBTC, ARKB, BITB and BTCO, reported zero flows. That suggests the selling came from a handful of large IBIT holders rather than a broad exit across the ETF complex.
- Oct 30: about $643 million in net outflows, the largest single day since June.
- Nov 2: $398.6 million in net outflows.
- Last five sessions: roughly $711 million in net outflows, per TokenPost.
The scale remains modest relative to the overall market. Spot bitcoin ETFs hold around $98 billion in net assets, and cumulative net inflows since launch still stand above $56 billion.
Ether funds under pressure too
Spot ether ETFs posted $139.7 million in net outflows in the same session. BlackRock's ETHA accounted for most of it, at about $138.3 million.
It marked the sixth consecutive day of outflows for ether funds. Combined, U.S. spot bitcoin and ether ETFs lost about $538 million in a single session.
Bitcoin tests $76,400 support
Bitcoin fell about 2.2% over 24 hours to roughly $76,500, according to crypto.news. Price has printed lower highs and lower lows since early October, with the daily RSI near 34, close to but not yet in oversold territory.
Analyst That Martini Guy flagged $76,400 as the level to watch. He warned that a convincing four-hour close below that zone could open the door to further declines.
- Resistance: $78,000, followed by $79,500 and $80,000.
- Support: $76,400–$76,500, then the 50-week moving average near $75,600 and $75,000.
On the derivatives side, CoinGlass data showed roughly $90 million to $100 million in bitcoin positions liquidated over 24 hours, mostly longs. That is far smaller than the roughly $1.5 billion wiped out right after the Binance hack in late October.
What it means for crypto markets
Two straight days of outflows suggest some institutional investors are cutting risk after the Binance hack and ahead of a busy macro week. So far, price has drifted lower rather than seeing a sharp sell-off.
- Bull case: ETF flows turn positive after the midterms, BTC holds $76,400 and reclaims the $78,000–$79,500 range.
- Risk case: Outflows persist for several more sessions, BTC closes below $76,400 and slides toward the 50-week MA near $75,600 or $75,000.
Geopolitical risk is also back in focus. The Wall Street Journal, as cited by The National, reported that U.S. forces carried out a limited strike on Iran's Qeshm Island on Nov 2, lifting Brent crude about 0.5% to $105.25 a barrel.
What to watch next
- Nov 3: U.S. midterm election results, which could shape the path of pending crypto legislation.
- Nov 3 session flows: spot ETF data from SoSoValue and Farside, due early Nov 4 (GMT+7).
- Nov 6: October U.S. jobs report, a key input for Fed rate expectations.
- Binance: withdrawal pace and asset recovery progress after the hack.
Check our economic calendar and real-time liquidations for live updates.
Frequently Asked Questions
How much have bitcoin ETFs lost in the last two sessions?
About $643 million on Oct 30 and $398.6 million on Nov 2, for a total of nearly $1.04 billion. Most of the withdrawals came from BlackRock's IBIT.
Which bitcoin price levels are traders watching?
Analysts are focused on $76,400 support, followed by the 50-week moving average near $75,600 and $75,000. On the upside, resistance sits at $78,000 and $79,500.
Do ETF outflows mean prices will keep falling?
Not necessarily. ETF flows reflect short-term institutional sentiment and can reverse quickly, as seen in late October when funds logged four straight days of inflows.
*This content is for information only and is not financial advice.*
Tags: Bitcoin, ETF, BlackRock, Ethereum
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