Bitcoin and Ethereum spot ETFs have continued to register net outflows for a third consecutive day, signaling waning investor appetite amid a period of heightened market uncertainty.
The total outflow reached nearly $290 million, reflecting a cautious tone across both institutional and retail segments as traders assess the next directional move.
Bitcoin ETFs Face Renewed Pressure
According to data from Farside Investors, Bitcoin spot ETFs saw total daily outflows of $192 million. This marks the third straight session of negative flows following a volatile week in the crypto market. BlackRock’s iShares Bitcoin Trust (IBIT) led the redemptions, posting $149 million in withdrawals – the largest among all Bitcoin ETF products.
Despite this setback, IBIT still boasts cumulative inflows of $64.9 billion, underscoring its long-term dominance in the Bitcoin ETF market. Grayscale’s Bitcoin Trust (GBTC) was the only fund to close the day in positive territory, recording $6.87 million in inflows. Yet, GBTC’s historical outflows remain significant, standing at $24.68 billion since conversion.
The total net asset value of all Bitcoin spot ETFs now stands at $147.7 billion, accounting for approximately 6.77% of Bitcoin’s total market capitalization. Cumulative net inflows across all Bitcoin ETF issuers reached $61.18 billion.
Ethereum Outflows Deepen Amid Price Weakness
Ethereum spot ETFs mirrored Bitcoin’s performance, recording $98.2 million in net outflows on the same day. BlackRock’s ETHA ETF saw the largest withdrawal of $38.6 million, followed by Fidelity’s FETH ETF with $27.1 million. The ongoing decline marks the third consecutive session of redemptions, highlighting sustained investor hesitancy in Ethereum-linked products.
The total net asset value of Ethereum spot ETFs stands at $26.02 billion – around 5.58% of Ethereum’s total market capitalization – with cumulative net inflows of $14.37 billion to date.
Technical Indicators Point to Extended Consolidation
Both Bitcoin and Ethereum remain under pressure in spot markets. Bitcoin was trading around $107,900 at the time of writing, down 2.5% in 24 hours and over 6% in the past week. Ethereum slipped more sharply, falling 4% on the day to $3,717.
Charts show both assets hovering near key support levels, with RSI readings for Bitcoin and Ethereum at 41.2 and 39.2, respectively — levels typically associated with fading momentum. The MACD lines also point downward, indicating continued weakness before any potential recovery.
Analysts Eye Long-Term Altcoin Breakout
Despite the near-term caution, some analysts maintain a constructive long-term view. Crypto trader Michaël van de Poppe noted that altcoins are currently in an “ideal build-up phase,” with consistent momentum that could lead to a breakout above previous all-time highs once broader market liquidity returns.
However, for now, ETF data suggests institutions are taking a more defensive stance, waiting for clearer signals before re-entering the market in size. If outflows persist, the short-term trajectory of Bitcoin and Ethereum may remain constrained within their current consolidation zones, with volatility expected to stay elevated throughout November.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
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Source: https://coindoo.com/bitcoin-drops-below-108k-as-spot-etfs-bleed-and-expert-sees-altcoin-breakout-setup/
