Key facts: Bitcoin ETFs lose $2.35B; BTCUSD drops, shorts surge
U.S. spot Bitcoin ETFs saw $2.35 billion in net outflows over the first two November trading weeks, including $1.07 billion in the week to November 13. BlackRock’s fund led withdrawals.BTCUSD fell sharply over the weekend amid high leverage, spot Bitcoin ETF outflows, reported institutional selling and hotter U.S. inflation data. Manipulation claims remained unsubstantiated.BTCUSD faced pressure as short positions topped their August peak, BlackRock’s IBIT saw heavy outflows, and crypto markets hit extreme fear.Bitcoin’s sell-off marks its fourth capitulation wave since its record high, on-chain analyst James Check said. He cautioned that current valuation alone does not confirm a market bottom.About $1 billion in BTC moved to Coinbase Prime custody addresses, in transfers described as consistent with custody management rather than selling.Jiang Zhuoer opened a Bitcoin short at $65,720, sized at 200% of his position, to hedge his BTC and ETH holdings. He plans to close it at breakeven if BTC returns to that price.This is an AI-generated summary and may contain inaccuracies. Please verify any important information with the original sources.