Pomegra
Bitcoin stalls below $76,000 as spot ETFs shed $1.28 billion in a week and altcoins slide, tracking the risk-off mood across financial markets today.
- Bitcoin trades near $75,100-$75,800, on course for a fifth straight weekly loss and about 40% below its October 2025 record.
- US spot bitcoin ETFs lost $1.28 billion over Nov. 2-6, the largest weekly outflow since the week ended June 26.
- NEAR, Bitcoin Cash, Stellar and Hyperliquid fell 10% to 15% on the week as equities slid.
Lead
Bitcoin held below $76,000 on Sunday, Nov. 8, after a week in which the largest cryptocurrency lost the level on Nov. 5 and failed to reclaim it. The token changed hands near $75,100 to $75,800, down roughly 3% to 4% on the week, 9% over the past month and about 13.5% year to date. That leaves it 39.9% below the record of $126,080 set on Oct. 6, 2025. Market capitalization stands near $1.53 trillion, and bitcoin's share of the total crypto market is about 59%.The slide followed a sharp reversal in risk assets. Bitcoin briefly traded above $81,000 on Wednesday after the US midterm elections, then gave back the move as equities sold off.
What Happened to Bitcoin This Week?
Bitcoin fell back through $76,000 on Nov. 5 as a technology-led sell-off in US equities spread to digital assets. The Nasdaq Composite dropped 5.5% that day and entered correction territory, while the S&P 500 fell 4.4%, its worst session since April 2025. The Dow Jones Industrial Average lost 3.44% to 51,523.06. All eleven S&P sectors closed lower.
Crypto derivatives amplified the move. About $880 million of leveraged positions were liquidated on Nov. 5, roughly $819 million of them long bets. Bitcoin has since consolidated just above $75,000, a zone that coincides with the 50-week moving average near $75,562. The 200-day moving average sits at $73,197. Resistance is stacked at $76,000, with a cluster of short liquidations between $76,500 and $77,500.
Why Are Bitcoin ETFs Seeing Outflows?
Spot bitcoin exchange-traded funds are losing money because investors are cutting risk across asset classes, and crypto is among the first positions to go. Net outflows reached $430.2 million on Nov. 5 and $412 million on Nov. 6, bringing the five-day total to $1.28 billion. That erased the year's cumulative net inflows, pushing the 2026 balance below zero.
BlackRock's iShares Bitcoin Trust (IBIT, BLK) accounted for about $1.21 billion, or 94%, of the weekly withdrawals. On Nov. 5, Fidelity's fund lost $199.9 million, iShares $105 million, Grayscale $49.9 million, Franklin $32.9 million and VanEck $23.6 million.
Ether products fared no better. US spot ether ETFs shed $365 million over the week, their sixth consecutive weekly outflow, including $93 million on Nov. 6. Solana funds lost about $26 million and Hyperliquid products about $16 million. XRP funds drew essentially no new money.
Which Altcoins Fell the Most?
NEAR Protocol was the weakest large token, down about 15% on the week to near $3.71. Bitcoin Cash dropped about 13% to $246, Stellar's XLM fell about 11% to $0.151, and Hyperliquid's HYPE lost between 4% and 12% depending on the measurement window, trading near $75.
Large-cap tokens fell less sharply but extended monthly declines:
- Ether trades near $2,141 to $2,223, down 13.6% over the past month.
- Solana trades near $88 to $90, down 22% over the past month.
- XRP trades near $1.12, with weekly losses in the mid-single digits.
Smaller tokens typically carry thinner liquidity and heavier leverage, so they fall faster when capital leaves the sector. The Crypto Fear and Greed Index has dropped into fear territory.
Why Is Crypto Tracking the Broader Risk-Off Mood?
Crypto is tracking equities because the same three forces are driving both: an AI and chip sell-off, a political shift in Washington, and rising expectations for higher interest rates.
Semiconductor shares led Thursday's equity rout. The Philadelphia Semiconductor Index fell about 12%, and the VanEck Semiconductor ETF (SMH) dropped 11.2%. Nvidia (NVDA) lost 9.3%, Broadcom (AVGO) 10.4% and Micron (MU) 17.5%. Investors weighed what Democratic control of Congress could mean for AI regulation and data center build-outs, alongside disappointing chip earnings. The VIX volatility gauge jumped from about 16.6 to 28.2.
The labor market added a second pressure point. The US economy created 165,000 jobs in October against a forecast of about 65,000, and unemployment slipped to 4.1% from 4.2%. Average hourly earnings rose 0.4%. Futures pricing for a quarter-point federal reserve rate increase in December rose to about 78% from 70%. Higher expected policy rates raise the opportunity cost of holding non-yielding assets such as bitcoin.
What Comes Next for Bitcoin and Financial Markets?
The near-term path depends on whether bitcoin holds the $75,000 zone. A decisive close below it would expose the 200-day average near $73,200. A recovery above $76,000 would put $80,000 back in view, roughly 5.6% above current levels.
The ETF flow data and the equity market's recovery will set the tone. Sustained outflows from IBIT and its peers would signal that institutional demand, which supported the 2025 rally, remains on hold. A stabilization in Nasdaq chip stocks would likely ease pressure on crypto, given the correlation seen this week.
Outlook
Bitcoin enters the new week pinned between $75,000 support and $76,000 resistance, with a fifth consecutive weekly decline nearly locked in. ETF outflows of $1.28 billion, double-digit weekly losses in several altcoins and a volatile equity backdrop define the current setup. The December Federal Reserve meeting, further labor and inflation data, and the direction of AI-linked equities are the next catalysts for crypto and broader risk assets.
Mentioned tickers: IBIT, BLK, SMH, NVDA, AVGO, MU
