Exchange-traded funds (ETFs) are approaching $3 billion in net outflows for November, putting the products on track for their worst month yet after a BlackRock fund posted its biggest day of redemptions ever.
US Bitcoin Spot (Bitcoin) ETFs extended their five-day losing streak on Tuesday, recording another $372 million in negative net outflows, According to For Farside investors.
BlackRock’s iShares Bitcoin Trust (IBIT) ETF recorded $523 million in outflows, marking the largest day of outflows since its debut in January 2024.
With the latest outflows, November’s total reaches $2.96 billion, already making it the second-worst month for Bitcoin ETFs. BlackRock alone accounted for $2.1 billion of those outflows.
Another week of selling could push redemptions beyond the $3.56 billion seen in February, marking the weakest month for ETF flows despite a historical trend for November to be one of Bitcoin’s strongest periods.
Inflows from Bitcoin ETFs have been the main driver of Bitcoin Momentum in 2025Jeff Kendrick, global head of digital asset research at Standard Chartered, recently told Cointelegraph.
Related to: Bitcoin ETFs Bleed $866 Million in Second-Worst Day on Record, But Some Analysts Remain Optimistic
ETF outflows continued to rise despite investors anticipating a month of appreciation in the price of Bitcoin, based on historical data. November is the best month for Bitcoin’s historical returns, with Bitcoin’s average rise of 41.22% during the month. According to For CoinGlass data.
Looking at other crypto funds, Ether (EthereumETFs recorded outflows of $74.2 million on Tuesday, while Solana (SolETFs have attracted inflows of $26.2 million, surpassing $421 million in total investments since launch, according to Farside Investors.
Related to: Metaplanet’s bitcoin gains fell 39% as October’s crash squeezed corporate coffers
Prospects of an interest rate cut affect sentiment
Bitcoin printed this The fourth “death cross” of the session last week, a technical chart pattern that appears when indicators of an asset’s short-term price momentum fall below the long-term trend.
While historically considered a “bearish technical signal,” a death cross can also signal an overall bottom before a strong reversal occurs, depending on the broader economic context. Lacey Zhang, research analyst at Bitget Wallet, told Cointelegraph.
“This time, the signal comes at a time when liquidity is just beginning to stabilize, the odds of a December interest rate cut have dropped from near certainty to almost 50%, and market risks remain unresolved. […]”
The analyst explained that some of the crypto-related concerns included a warning from Bitmine Immersion CEO Tom Lee, who stated that two major market makers were facing a financial deficit.
Meanwhile, markets expect a 46% chance of a 25 basis point rate cut during the Fed’s December 10 meeting, down from 93.7% a month ago. According to To CME Group’s FedWatch tool.
This development has inspired a repositioning of the industry’s most successful traders, who are tracked as “smart money” traders on Nansen’s blockchain intelligence platform, for short-term downside.
Smart money traders added $5.7 million worth of cumulative short positions over the past 24 hours, indicating a downside outlook, as this group had a net short of Bitcoin worth $275 million, according to Nansen.
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