Share this article
Bitcoin ETFs Witness Third Highest Outflow Since Launch, the Other Two Times Foreshadowed Price Bottoms
Bitcoin's price has now corrected approximately 6% since the all-time high break on Nov. 13.
Updated Nov 15, 2024, 10:07 a.m. Published Nov 15, 2024, 10:05 a.m.
- U.S. spot-listed ETFs saw their third biggest outflow since launch, over $400 million.
- Each time we see an outflow greater than $400 million, we have seen a local bottom in price, which can be seen on May 1 and Nov. 4.
U.S.-listed bitcoin exchange-traded funds (ETFs) saw their third-largest outflow since launch, seeing $400.7 million being drained on Thursday, according to Farside data.
During yesterday's trading, bitcoin witness low of around $86,600 and highs of near $92,000. Bitcoin has corrected nearly 6% from its all-time high on Nov. 13, when it pushed past $93,000.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
This price action isn't too concerning, as typically, once bitcoin sets new all-time highs, investor tend to take out their profits. In the past three days investors have cashed in $15 billion, according to Glassnode data. Bitcoin has soared over 25% since Donald Trump was elected the new U.S. president, earlier in the month.
BlackRock's IBIT saw inflows of $126.5 million, continuing the trend of strong inflows since Nov. 7. However, Fidelity's FBTC saw outflows of $179.2 million, Bitwise BITB saw $113.9 million being drained, Ark's ARKB bled $161. 7 million, while both Grayscale products saw combined outflows of $74.9 million.
Since the launch of the ETFs, Thursday was the third worst day for the bitcoin-linked products. Interestingly, the other two times the ETFs saw outflows of over $400 million was on Nov. 4 ($541.1 million), just prior to the U.S. election, and May 1 ($563.7 million). On Nov. 4, bitcoin bottomed around $67,000 before going on a tear all the way to over $93,000. While the May low coincide with a bottom at just under $60,000.
We will have to wait and see if the ETF flows signal another bottom and history repeats itself.
On the other hand, ether ETFs saw their first outflow in nearly two weeks, with investors taking out $3.2 million.
Meer voor jou
Wat u moet weten:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Meer voor jou
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
Wat u moet weten:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
