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BlackRock's IBIT fund, the largest Bitcoin exchange-traded fund in the US, has been losing money for 11 trading sessions without a single day of inflows - since October 30. Over that period about $2.35 billion was withdrawn from it, and this is the longest outflow streak in its history.
Over 24 hours, $1.64 billion in leveraged positions were forcibly closed on the crypto market - 513.7% more than the day before. Almost 89% of the amount came from long positions: BTC's drop to $67,770 wiped out those who bet on growth.
US Bitcoin exchange-traded funds (funds through which the asset is bought like an ordinary stock on an exchange) are losing money for the second day in a row, and nearly five billion dollars have left Binance since it resumed operations. BTC, meanwhile, is holding around $76,900.
On the morning of November 3, BTC fell below $77,000, while Asian exchanges opened down 3-4% due to chipmaker stocks. Over two sessions, $1.04 billion was withdrawn from US spot Bitcoin exchange-traded funds (funds through which the asset is bought like a stock).
On October 14, US exchange-traded funds (ETFs - a fund through which an asset is bought like an ordinary stock) on Bitcoin, Ethereum and Solana showed a total net outflow of about $171.5 million. A day earlier, the same funds took in $200.5 million.
