Crypto Slips Into the Weekend as Bitcoin ETFs Lose $430 Million

US spot Bitcoin exchange-traded funds lost $430.2 million on Thursday, 5 November, Farside Investors data show, and Ether funds lost $99.9 million the same session. SoSoValue's daily tables match at roughly the same size: about $430 million out of the Bitcoin products and about $100 million out of the Ether products.

That single-day exit is the number under the weekend drop. Bitcoin is trading near $76,000 after dipping below $75,000 on Friday, 6 November for the first time since the August rally, and it is set for a fifth straight weekly loss.

• The news: US spot Bitcoin and Ether ETFs both lost money on 5 and 6 November, and this year's net flow for the Bitcoin funds has turned negative.
• The key figure: Bitcoin ETFs lost $430.2 million on 5 November, per Farside Investors, matched by SoSoValue at about $430 million.
• What comes next: whether the outflows slow when markets reopen, and whether the Federal Reserve delivers the 25 basis point hike now priced at 76.8% for December.

Two Sessions, Two Sets of Outflows

Thursday's total was the larger of the two legs.

Update (8 November): Friday's session added another $412 million of net Bitcoin ETF outflows, with Ether funds shedding $93.19 million the same day.

BlackRock's iShares Bitcoin Trust (IBIT) carried most of Friday's exit at about $403 million of the $412 million, SoSoValue data show. The day before, IBIT lost about $105 million and Fidelity's Wise Origin Bitcoin Fund (FBTC) about $200 million, after FBTC had pulled in roughly $237 million on Wednesday.

For the year, US spot Bitcoin ETFs have taken in $25.6 billion and paid out $26.1 billion, leaving net flows at minus $502 million through 5 November, SoSoValue data show. The funds hold $96.65 billion in assets, down from $113.29 billion at the end of 2025.

IBIT's daily outflow run stands at five sessions on one count, with more than $1 billion withdrawn since 30 October.

Ether Funds Follow the Bitcoin Exit

Ether ETFs lost $99.9 million on 5 November, Farside data show, after an $85.3 million outflow on 3 November and a brief recovery on 4 November.

Friday's exit of $93.19 million came almost entirely from one fund: BlackRock's iShares Ethereum Trust (ETHA) lost $90.76 million, against $1.91 million from Grayscale ETH and $1.67 million from Fidelity FETH.

For the year, US spot Ether ETFs are about $310 million in the red and hold $13.04 billion in assets, down from $17.95 billion.

Jobs Data, a Hawkish Fed and a Falling Nasdaq

The macro backdrop did the damage. The latest US employment release put the unemployment rate at 4.1%, below the 4.2% forecast and inside the 4.1% to 4.3% band it has held since March, according to the Bureau of Labor Statistics.

After the print, expectations of a 25 basis point Fed rate hike at the December meeting rose from 66.9% to 76.8%, per CME Group's FedWatch Tool. Tech stocks sold off hard: the Nasdaq Composite fell 5.5% on Thursday, its biggest one-day drop since April 2025, with the S&P 500 down 4.36% and the Dow Jones 3.44%.

Crypto has traded as a higher-beta version of tech this cycle, so the equity drop pulled it down too. Bitcoin fell roughly 6% to about $75,700 on 5 November, its lowest close in a month, and trades 39.9% below its all-time high of $126,080 set on 6 October 2025.

Liquidations Build and Sentiment Sinks

Leverage amplified the fall. Ethereum alone recorded more than $210 million in liquidations over 24 hours, with long positions accounting for $179 million, per CoinGlass data. Across the market, about $879.92 million in forced liquidations landed within a four-hour window, $818.90 million of it from longs and $61.02 million from shorts.

Sentiment followed. The Crypto Fear & Greed Index fell to 28 on 6 November from 50 the day before, then to 25 by Saturday, in extreme fear territory.

Altcoins Take the Heavier Loss

Altcoins fell harder than Bitcoin over the week. Among large caps, NEAR dropped 15%, Bitcoin Cash 13%, Hyperliquid's HYPE 12% and Stellar's XLM 11%, while Ethena's ENA fell more than 18%, Ondo's ONDO 12% and PUMP more than 14%.

Breadth thinned with them: about 70% of Binance-listed altcoins now trade below their 200-day moving average, up from roughly 10% in early October. Altcoins outside Bitcoin and stablecoins have lost about $200 billion in market value, undoing about two-thirds of a $320 billion gain booked between mid-August and late September.

The whole market is smaller for it. The global crypto market cap is $2.61 trillion, down 1.3% in 24 hours, with Bitcoin at $1.53 trillion, or 58.52% dominance, and stablecoins at $294 billion, or 11.29% of the total, according to CoinGecko.

The December Fed Meeting Is the Dated Catalyst

The next scheduled test is the December Federal Reserve meeting, where a 25 basis point hike is priced at 76.8%, up from 66.9% before the jobs report, per CME Group's FedWatch Tool. A hike would extend the tightening that has weighed on risk assets, while a pause would remove one of the pressures this week added.

Near term, the levels in play are the Friday low just under $75,000 and the $76,000 line Bitcoin has traded around since. One part of the flow board stayed green: Fidelity's FBTC pulled in $42.8 million on the day the wider Bitcoin ETF category lost $412 million, so demand has thinned rather than vanished.