Key takeaways
- Bitcoin stabilizes near $75,900 after sharp selloff
- Spot Bitcoin ETFs lose $1.28 billion weekly
- Breaking $75,000 could expose deeper downside support
Bitcoin stabilized near $75,900 on November 7 after testing the $75,000 support level, but another wave of institutional withdrawals has raised doubts about whether the cryptocurrency can sustain a weekend recovery.
According to Farside Investors' latest ETF data, US spot Bitcoin funds lost $411.9 million on November 6, bringing total net outflows for the five trading sessions to approximately $1.28 billion.
Bitcoin ETFs Lose $1.28 Billion as BlackRock Leads Selling
Institutional demand deteriorated sharply during the first trading week of November.
Bitcoin ETFs recorded $398.6 million in withdrawals on Monday and $115.6 million on Tuesday, before briefly recovering with $74.6 million in inflows on Wednesday.
That improvement quickly disappeared.
Thursday brought $430.2 million in withdrawals, followed by another $411.9 million on Friday.
BlackRock's IBIT accounted for $403 million of Friday's selling, while Fidelity's FBTC attracted $42.8 million, partially offsetting the broader outflows.
Our previous Bitcoin ETF analysis documented the earlier deterioration, while its November 6 price forecast identified $75,000 as a critical technical threshold.
The latest figures show that institutional redemptions continued even as Bitcoin's daily price decline slowed.
Bitcoin Price Prediction: Can $75,000 Support Hold?
Bitcoin's immediate outlook depends on whether buyers can defend the $74,800–$75,000 support zone.
Friday's price action briefly tested that region before stabilizing near $75,800.
A decisive breakdown below $74,800 could expose $73,200, followed by the broader $70,000–$72,000 demand area.
That downside scenario would become more concerning if selling accelerates after the weekend.
An earlier Bitcoin price forecast warning of $70,000 identified similar downside risks during November's opening selloff.
On the upside, Bitcoin must first recover $76,500–$77,000 to demonstrate improving momentum.
A sustained move above $78,000 could reopen the path toward $80,000, although that former support level may now attract renewed selling.
The latest correction has already erased the post-election recovery above $80,000.
Can Bitcoin Recover Despite Weak Institutional Demand?
Bitcoin's weekend trading could offer a temporary opportunity for stabilization, but lower liquidity may also amplify unexpected price movements.
Institutional sentiment remains fragile following the earlier $514 million ETF withdrawal streak.
Broader economic uncertainty adds another challenge, particularly after stronger US employment data increased expectations of higher Federal Reserve interest rates.
Meanwhile, Bitcoin mining infrastructure stocks have faced their own valuation pressures as investors reassess risk across technology-related markets.
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Elara Voss
Journalist covering cryptocurrency markets, blockchain innovation, and global digital asset regulation. With a background in financial research and technology reporting, she focuses on market movements, emerging protocols, institutional adoption, and the changing role of crypto in the global economy.
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