TLDR
- US spot Bitcoin ETFs lost $1.28 billion last week, the most since late June.
- The funds are now down $914.1 million for 2026.
- Short-term holders are sending more coins to exchanges at a loss.
- Weekly support sits near $75,900, with the 200-week EMA at $69,500 below.
- US inflation data this week could add volatility.
Bitcoin (BTC) traded near $75,880 on Saturday morning. The price is down about 6% in two days since November 5.
US spot Bitcoin ETFs recorded $1.28 billion in net outflows last week, based on SoSoValue data. That was the worst week for the funds since late June.
The outflows erased the funds’ gains for the year. They began the week with about $368 million in 2026 net inflows. By Friday, they stood at $914.1 million in net outflows.
Funds lost money on four of five trading days. Outflows were $398.6 million on Monday, $115.6 million on Tuesday, $430.2 million on Thursday and $411.9 million on Friday. Wednesday brought a $74.6 million inflow.
BlackRock’s IBIT led Friday’s exits with $403 million, about 88% of gross outflows. Fidelity’s FBTC took in $42.8 million that day.
Other crypto funds also lost money. Spot ether ETFs shed $365.3 million, their sixth straight weekly outflow.
Solana ETFs lost $26.3 million and Hyperliquid ETFs lost $15.6 million. Each logged a fifth straight week of outflows, their longest streaks yet.
What Moved the Market This Week
Bitcoin fell 5.6% on Thursday alone. Analysts linked the drop to the Democratic sweep of Congress in Tuesday’s midterm elections and doubts over AI spending.
Worries about an AI selloff have also weighed on risk assets. Arthur Hayes, co-founder of Maelstrom, has warned that an AI collapse could push BTC lower.
Market sentiment has fallen to extreme fear. CryptoQuant data shows short-term holders are now selling at a loss.
Losses make up 89% of those holders’ exchange inflows. Coins in profit sent to exchanges fell from 29,849 BTC to 4,089 BTC, while coins at a loss rose from 2,559 BTC to 32,695 BTC.
Analyst Quinten pointed to a different reading of the same price. He said only 58.3% of Bitcoin’s supply is in profit at $76,000, and that similar levels showed up during some of the best accumulation periods of the past decade.
Bitcoin at $76,000 and only 58.3% of the supply is in profit.
Historically, similar readings have appeared during some of the best accumulation opportunities of the past decade. pic.twitter.com/iMukt4PYO5
— Quinten (@QuintenFrancois) November 8, 2026
CoinGlass data shows exchange reserves dropped from 2.6 million BTC on November 4 to 2.59 million BTC. That suggests about 10,000 BTC left exchanges.
Price Levels in Focus
The weekly chart shows a rounded top pattern. A weekly close below $75,900 could send price toward the 200-week EMA at $69,500.
Resistance sits at the 100-week EMA near $78,900. A close above it and a hold of $81,000 could open a path toward $85,000.
The weekly RSI has dropped below 50. That reading points to bears holding control on that timeframe.
Analyst Crypto Patel posted that BTC has seen three major cycle bottoms, each with a bullish engulfing signal. He asked whether a fourth is setting up.
$BTC 3 Major cycle bottoms. Three bullish engulfing signals.
Is the 4th one setting up?
I think, No need to explain. pic.twitter.com/YfiROv3WFK
— Crypto Patel (@CryptoPatel) November 8, 2026
US inflation data is due this week. On Saturday morning, ether traded near $2,244, Solana near $89.84 and Hyperliquid near $77.79.
