BlackRock Bitcoin ETF Logs $105M Outflow in Fifth Straight Day of Selling - Bitcoin Foundation
BlackRock’s Bitcoin ETF recorded a $104.97 million outflow on November 5, extending a five-day selling streak as Bitcoin fell 5.22% in 24 hours.
The latest outflow from BlackRock’s IBIT spot Bitcoin ETF was $104.97 million, according to SosoValue data cited by U.Today. The report noted that BlackRock had not recorded a new Bitcoin purchase during November at that point.
This marked the fund’s fifth consecutive day of reported selling, extending a streak that began in late October. The activity also added to a sequence of negative sessions for the fund, placing institutional flows at the center of attention.
Bitcoin’s decline supplied the immediate market backdrop. The asset reached a high above $80,000 before dropping to $75,114 within one day, a reversal that weakened expectations for an early-November recovery.
CoinGecko data fetched on November 6 showed BTC at $76,066, down 5.24756% over 24 hours. The market data also recorded roughly $45.3 billion in 24-hour trading volume.
Bitcoin was trading near its 50-week simple moving average at $75,733 on November 6, Cointelegraph reported. The level became a reference point as BTC held above $75,000 after the previous day’s broader risk-asset sell-off.
Wider Market Retreat
The reported IBIT outflow arrived alongside a wider retreat across risk assets. Bitcoin fell as much as 6.6% on Thursday while U.S. technology stocks also declined.
The S&P 500 closed 4.4% lower and the Nasdaq Composite fell 5.5%. In Asia, South Korea’s KOSPI dropped more than 8% shortly after opening, triggering a 20-minute trading halt before closing 6% lower at 5,059.69 points.
These movements reflect a broader risk-off sentiment affecting global markets. The next reported ETF flow sessions will show whether the five-day selling streak continues or breaks.
Investor Focus
For investors tracking institutional demand, the key figures are the size and direction of future IBIT flows. Bitcoin’s ability to remain above the $75,000 area and its 50-week average will also remain important reference points after the move from above $80,000.
The material provides data on the November 5 outflow, the five-day selling streak, and the concurrent declines in major stock indices. It also notes Bitcoin’s trading near its 50-week moving average.
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