Bitcoin News Update: Institutions Pour In Funds Despite Bitcoin Downturn: ETFs Draw $240M During Market Turbulence
- Bitcoin ETFs saw $240M net inflows on Nov 6, ending a six-day outflow streak led by BlackRock's IBIT and Fidelity's FBTC. - Despite Bitcoin's 9% weekly price drop to $100,768, institutional confidence grew in regulated, low-fee ETF products amid market volatility. - Altcoin ETFs gained traction while total crypto ETPs faced $246.6M outflows, highlighting diverging investor priorities. - Analysts attribute Bitcoin's decline to internal dynamics, not ETFs, as on-chain data shows easing sell-pressure and st
On November 6, Bitcoin ETFs broke a six-day streak of outflows by recording $240 million in net inflows, hinting at a possible change in institutional attitudes even as the cryptocurrency’s price continued to drop. The turnaround, primarily driven by BlackRock's iShares
The renewed inflows occurred amid heightened market turbulence and macroeconomic concerns, such as the looming U.S. government shutdown, which have pressured risk assets. BlackRock’s
Experts suggest that the recent sell-off is being driven by internal market factors rather than ETF activity. "Bitcoin has been undervalued given the current macroeconomic environment," said Ecoinometrics, noting that financial conditions remain loose and stock markets have reached new highs even as crypto prices fall, as reported by
The positive ETF flows stand in contrast to the broader crypto market. While Bitcoin ETFs saw $240 million in inflows, total crypto ETPs experienced $246.6 million in outflows for the week, largely due to $752 million in Bitcoin redemptions, Cointelegraph noted. In contrast, altcoin ETFs such as
Institutional strategies provide further perspective.
Large holders, or "whales," add further complexity to the market picture. Data from Santiment shows that wallets with 10–10,000 BTC—controlling 68.62% of the total supply—have sold off 23,200 BTC since mid-October after a period of heavy accumulation, as reported by
At present, the resurgence in ETF inflows suggests that institutional investors are adjusting their positions in response to market swings. "Ongoing inflows into Bitcoin ETFs are often seen as evidence of institutional commitment," one asset manager told FinanceFeeds. Should this pattern persist, it may help establish a price floor for Bitcoin amid ongoing market uncertainty.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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