• Bitcoin ETFs log five days of inflows as BTC climbs back above $93K.
• Analysts say ETF outflows overstated as broader forces drove the sellof.
• Vanguard’s crypto ETF reversal boosts institutional demand and sentiment.

Bitcoin exchange-traded funds continued to recover this week after suffering $3.48 billion in cumulative outflows during November, their second-worst month on record.

The products notched $58 million in net positive inflows on Tuesday, marking a fifth consecutive day of additions, according to data from Farside Investors.

The modest turnaround comes as Bitcoin trades back above the $89,600 flow-weighted cost basis for ETF investors, meaning the average holder is no longer sitting on unrealised losses.

Total crypto market sentiment has also improved following a period of heavy selling that pushed Bitcoin as low as the mid-$80,000s earlier this week. Other US crypto ETFs showed weaker performance. Spot Ether ETFs recorded $9.9 million in outflows on Tuesday, while Solana funds saw $13.5 million in net redemptions, Farside data showed. At press time, the Bitcoin price on OKX was around $92,622.

Outflows are not the main driver of Bitcoin’s decline

Market anxiety around large-scale sales from spot Bitcoin ETF holders appears to have overstated their direct impact on BTC’s downturn.

Bloomberg analyst Eric Balchunas pushed back on that narrative, questioning the simplistic linkage often made between ETF outflows and price weakness.

“I just read that Citi analysts say that for every $1 billion pulled from Bitcoin ETFs, it equals roughly a 3.4% drop in Bitcoin’s price. Ok, so then by that logic, since the ETFs have taken in +$22.5b of inflows YTD BTC should be up 77% this year,” Balchunas wrote on X.

His remarks highlight the role of broader market forces,  including leverage unwinds, macro uncertainty, and digital-asset treasury pressure,  behind the recent selloff, which erased more than $1 trillion in crypto market value since early October.

Bitcoin rises to its highest level since mid-November

Bitcoin extended its recovery on Wednesday, climbing as much as 2.6% to approximately $93,965 — its highest intraday level since November 17.  Ether and other major tokens also traded higher as the broader market attempted to establish a firmer footing after weeks of turbulence.

At the time of writing, the world’s largest cryptocurrency by market capitalisation gave up some of those gains to trade around $93,000.

The bounce was attributed partly to comments from US Securities and Exchange Commission Chair Paul Atkins, who reiterated that the agency plans to introduce a new regulatory framework, including a proposed “innovation exemption,” aimed at giving digital-asset firms more flexibility around issuance, custody and trading.

The remarks were interpreted as a step toward greater regulatory certainty for the sector, which has faced a patchwork of enforcement-driven oversight in recent years.

Vanguard reversal adds fuel to institutional demand

Institutional adoption received another lift after Vanguard, the world’s second-largest asset manager, reversed its long-standing policy and announced that it would allow clients to trade cryptocurrency-focused ETFs and mutual funds on its platform.

The change, effective this week, expands access to regulated crypto exposure for millions of US investors.

The move coincided with heightened expectations that the Federal Reserve will cut interest rates next week, strengthening Bitcoin’s appeal at a time when the dollar has softened, and risk appetite is improving.

Despite the rebound, the market is still showing signs of volatility.

The cryptocurrency market has remained under pressure since late October. However, the streak of inflows could suggest that Bitcoin may manage to end the year on a positive note.

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• Crypto.com will provide VerifiedX with $1.5B in institutional-grade custody and liquidity support.
• Partnership enables institutions using VerifiedX to securely store and transact assets via Crypto.com Custody.
• Integration builds on earlier collaboration linking Crypto.com Pay and on-ramps to Switchblade Wallets.

Crypto.com and the VerifiedX (VFX) Network (VerifiedX.io), a global leader in self-custody and Web3 wallet infrastructure, have announced a partnership under which Crypto.com will provide secure, institutional-grade custody and liquidity support for $1.5 billion in assets, along with OTC trading capabilities.

The collaboration enables eligible institutions using VerifiedX to safely store, manage, and transact digital assets through Crypto.com’s regulated custody platform.

The service features multi-user permissions, customizable governance workflows, and insured storage solutions, addressing the rising demand for scalable, cost-efficient, and compliant blockchain infrastructure.

“Crypto.com Custody is specifically designed with expectations of institutional-grade clients,” said Eric Anziani, President and COO of Crypto.com.

“We are pleased to be selected by VerifiedX, a leader in self-custody and digital asset wallet capabilities, to further enhance an established custody offering for all client needs.”

This marks the latest collaboration between Crypto.com and VerifiedX, building on their earlier partnership to integrate Crypto.com Pay and on-ramp services directly into VerifiedX’s Switchblade Wallets, creating a seamless, secure, and scalable experience for both everyday users and developers.

“As the people’s network, the mission is clear – to make custody seamless, secure, and globally accessible. Partnering with Crypto.com significantly elevates that very ethos with best in-class custody and liquidity infrastructure,” said The VerifiedX Foundation.

Crypto.com Custody provides eligible institutions and high-net-worth clients with a comprehensive, end-to-end custody solution designed with security and operational robustness at its foundation.

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• Bitcoin ETFs log fifth straight day of heavy outflows.

• BlackRock’s IBIT posts record withdrawal since launch.

• Bitcoin risks further downside as sell pressure intensifies.

US-listed spot Bitcoin exchange-traded funds saw another day of significant redemptions on 18 November, marking their fifth consecutive session of outflows.

The ETFs recorded a combined $372.8 million in net withdrawals, extending a trend that began on 12 November and has now removed billions of dollars from major issuers.

The day’s outflows were driven largely by BlackRock’s iShares Bitcoin Trust (IBIT), which reported $523.2 million in redemptions — its largest single-day loss since launching in January 2024.

Small inflows into EZBC and BTC were not enough to offset broader investor selling.

Date	IBIT	FBTC	BITB	ARKB	BTCO	EZBC	BRRR	HODL	BTCW	GBTC	BTC	Total
18 Nov 2025	(523.2)	0.0	0.0	0.0	0.0	10.8	0.0	0.0	0.0	0.0	139.6	(372.8)
17 Nov 2025	(145.6)	(12.0)	(9.5)	(29.7)	0.0	0.0	0.0	(23.3)	0.0	(34.5)	0.0	(254.6)
14 Nov 2025	(463.1)	(2.1)	0.0	0.0	0.0	0.0	0.0	0.0	0.0	(6.0)	(25.1)	(492.1)
13 Nov 2025	(256.6)	(119.9)	(47.0)	(15.7)	(30.8)	(5.7)	0.0	(8.3)	0.0	(64.5)	(318.2)	(866.7)
12 Nov 2025	(36.9)	(132.9)	0.0	(85.2)	0.0	0.0	0.0	0.0	0.0	(23.1)	0.0	(278.1)

Recent sessions have shown a similarly weak pattern, with $254.6 million exiting on 17 November, $492.1 million on 14 November, $866.7 million on 13 November, and $278.1 million on 12 November.

The sustained withdrawals reflect cooling institutional appetite despite pockets of isolated inflows.

IBIT faces heaviest pressure

According to SoSoValue data, IBIT’s $523.15 million outflow on Tuesday surpassed its previous record of $463 million set on 14 November.

The ETF has now posted five straight days of net outflows, totaling $1.43 billion.

With $72.76 billion in net assets, IBIT remains the world’s largest spot Bitcoin ETF.

Yet it has seen a negative flow trend since late October, accumulating four consecutive weeks of outflows amounting to $2.19 billion.

Across the sector, spot Bitcoin ETFs have suffered more than $3 billion in outflows so far in November, with IBIT alone accounting for nearly $2 billion of that figure.

The withdrawals have coincided with Bitcoin’s price correction, which saw the token fall below $90,000 earlier this week from its $126,080 all-time high in early October.

Bitcoin was last changing hands around $91,849, up 1.6% in the past 24 hours.

Bitcoin price tests crucial support

Bitcoin continues to trade near the $90,000 support level on Wednesday.

A daily close below that threshold could open the door to further downside, particularly as institutional outflows reinforce bearish sentiment.

The pressure has been amplified by data showing persistent selling across multiple investor cohorts.

A K33 Research report released Tuesday noted that long-term holders have been trimming positions for months, while ETF investors have accelerated their own selling in recent weeks.

K33 highlighted that Bitcoin’s recent market structure resembles prior major drawdowns.

In March 2024, the token fell 33.57% from its peak, while the tariff-driven sell-off earlier in the year resulted in a 31.95% decline. A similar correction today would place Bitcoin in the $84,000 to $86,000 range.

Analysts at K33 also warned that a resurgence of leverage in the derivatives market could act as a catalyst pushing prices toward — or even below — those levels.

 

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• Strategy acquired 8,178 BTC for $835 million, bringing total holdings to 649,870 BTC.

• The firm’s Bitcoin stash is now worth $61.7 billion, with $13.3 billion in unrealised gains.

• CEO Michael Saylor dismissed rumours of BTC sales, reaffirming Strategy’s “buy-and-hold” stance.

The world’s largest corporate holder of Bitcoin, Strategy, has resumed aggressive accumulation of the cryptocurrency with a purchase worth $835 million, even as prices remained volatile and sentiment turned cautious.

In a filing with the US Securities and Exchange Commission on Monday, the company reported buying 8,178 Bitcoin (BTC) at an average price of around $102,100 each.

The acquisition marks a sharp uptick from the firm’s earlier pace of 400–500 coins per week through October and early November.

The latest buy underscores Executive Chairman Michael Saylor’s conviction in Bitcoin as the firm’s core treasury asset, despite the cryptocurrency’s recent pullback.

Bitcoin treasury expands to nearly 650,000 coins

Following the purchase, Strategy now holds 649,870 BTC, valued at roughly $61.7 billion at current prices, based on CoinGecko data showing BTC trading near $94,200.

The company’s cumulative acquisition cost stands at $48.4 billion, implying paper gains of about $13.3 billion.

At that scale, Strategy controls more than 3% of Bitcoin’s total 21 million supply, making it by far the world’s largest corporate holder of the asset.

“₿ig week,” Saylor hinted on X (formerly Twitter) ahead of the announcement, signalling to his followers that another large purchase was imminent.

Despite the buying spree, Strategy’s stock (MSTR) fell more than 16% over the past five days to $197.03 on Nasdaq, reflecting broader weakness in crypto-related equities after Bitcoin’s sharp correction.

Saylor reaffirms commitment, dismisses sale rumours

Last week, Saylor pushed back against speculation that the company had sold part of its Bitcoin holdings.

The rumour originated from a Walter Bloomberg post on X citing Arkham Intelligence data, which later clarified that the on-chain movement reflected wallet reorganisation, not liquidation.

“There is no truth to this rumour,” Saylor said in response.

“We are buying. We’re buying quite a lot, actually, and we’ll report our next buys on Monday morning. I think people will be pleasantly surprised,” he told CNBC.

Just a week earlier, Strategy disclosed it had purchased an additional 487 BTC for $49.9 million, taking its total holdings at the time to 641,692 BTC.

Volatility returns to Bitcoin

Bitcoin’s latest rally came under pressure last week, with the cryptocurrency falling as much as 25% from its October all-time high near $126,000, dropping to a Sunday low of $93,029 before rebounding modestly.

Despite the US government reopening after a record 43-day shutdown, market uncertainty tied to President Donald Trump’s tariff policies and global risk aversion has led to heavy liquidations across digital assets.

Even so, 2025 has marked a pivotal year for corporate Bitcoin adoption, with 194 public companies now holding BTC on their balance sheets, according to Bitcoin Treasuries data.

Other major holders include Marathon Digital (MARA), Twenty One, Metaplanet, and Riot Platforms, all of which have added to their reserves amid growing regulatory clarity under the Trump administration.

 

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• Bitcoin falls below $100,000, signalling potential for deeper losses.

• Ethereum and XRP struggle at key resistance levels amid bearish momentum.

• Canary Capital’s XRP ETF records $58 million in debut trading volume.

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) traded in negative territory on Friday, extending the week’s losses as bearish sentiment continued to grip the cryptocurrency market.

Bitcoin has fallen more than 5%, Ethereum over 10%, and XRP around 2% so far this week, with each facing strong technical resistance.

Bitcoin slipped below the $100,000 psychological level, signalling that bears remain in control.

The leading cryptocurrency faced rejection at the 38.20% Fibonacci retracement level at $106,453, drawn from the April 7 low of $74,508 to the October 6 all-time high of $126,299.

BTC has declined nearly 6% since Monday and is currently trading around $96,300.

If Bitcoin continues its correction and closes below support at $97,460, analysts see potential for further downside toward $95,000.

The Relative Strength Index (RSI) at 35—well below the neutral 50—indicates mounting bearish pressure, while the Moving Average Convergence Divergence (MACD) shows a bearish crossover, reinforcing the sell signal.

If BTC manages to stabilise, however, a recovery toward $106,453, the key Fibonacci resistance level, remains possible.

Ethereum faces rejection, eyes a deeper pullback

Ethereum’s (ETH) correction intensified after the token faced rejection near its broken trendline resistance at $3,592 on Monday, dropping roughly 10% over three days.

As of Friday, ETH trades around $3,200.

Should Ethereum close below the $3,170 support level, analysts anticipate a further decline toward $3,017, a major daily support zone.

Both RSI and MACD indicators are pointing to growing bearish momentum, suggesting that Ethereum’s downturn may not be over yet.

If ETH manages to rebound, a recovery toward the 38.20% Fibonacci retracement level at $3,592 would be the next upside target.

XRP slides below key support as ETF launch steals spotlight

XRP began the week with a strong 6.75% rally on Monday, retesting the 50-day EMA at $2.53, but failed to sustain the move.

After multiple rejections from the same level, XRP fell 2.5% on Thursday, closing below support at $2.35. As of Friday, it trades near $2.30.

If the downtrend continues, XRP could decline further toward the next major support at $1.96. Both RSI and MACD show bearish bias, with the latter reflecting indecision among traders.

Despite the pullback, XRP grabbed headlines this week with the launch of Canary Capital’s XRP ETF (ticker: XRPC), which debuted Thursday to record-breaking volume.

According to Bloomberg’s senior ETF analyst Eric Balchunas, XRPC generated $58 million in first-day trading, the highest debut among nearly 900 ETF launches this year.

Balchunas noted that the XRP ETF reached $26 million in its first hour, surpassing the prior record set by Bitwise’s Solana ETF (BSOL), which recorded $57 million on its debut day and $72 million on its second.

“The two of them are in a league of their own,” Balchunas said on X, referring to XRPC and BSOL as standout performers in this year’s ETF market.

If XRP manages to regain momentum and close above $2.35, it could trigger a recovery toward the 50-day EMA at $2.53.

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