Bitcoin News Today: Bitcoin ETF Exodus Drives BTC Toward 2022-Style Slide, $80K Lows

Bitcoin ETFs Face Record Outflows as BTC Nears 2022-Style Slide

Bitcoin's (BTC-USD) November slump deepened in late 2025 as U.S.-listed spot BTC exchange-traded funds (ETFs) logged a record $3.79 billion in outflows, according to data from SoSoValue and Farside Investors with $2.47 billion in redemptions. The exodus, led by BlackRock's iShares Bitcoin Trust (IBIT), has pushed the cryptocurrency toward its worst monthly performance since the 2022 crypto collapse. Bitcoin fell as low as $81,629 on Nov. 21, erasing year-to-date gains.

The outflows have amplified downward pressure on Bitcoin's price, with Citi Research estimating that every $1 billion in ETF withdrawals correlates to a 3.4% drop in BTC's value. This dynamic has helped drive the token below $85,000, with Ether (ETH-USD) also facing declines. Fidelity's Wise Origin Bitcoin Fund (FBTC) added to the trend, with $1.09 billion in outflows this month. Together, IBIT and FBTC accounted for 91% of November's ETF redemptions.

Analysts attribute the outflows to profit-taking by long-term holders and leveraged positions unwinding after October's crypto market crash, which liquidated $20 billion in positions. Bitfinex analysts emphasized that the drawdown reflects short-term "tactical rebalancing" rather than a structural shift in institutional demand. However, the scale of redemptions has raised concerns about a broader bear market. QwQiao of Alliance DAO warned of a potential 50% drawdown before a durable recovery, while Citi's Alex Saunders set a bear-case target of $82,000 for year-end BTC, assuming no inflows.

The ETF turmoil has also impacted broader market sentiment. Bitcoin's price has fallen to levels last seen in April, with on-chain data showing older supply moving. CoinMarketCap's Fear and Greed Index hit 11-its lowest since March 2025-indicating extreme fear. Meanwhile, digital asset treasury (DAT) inflows collapsed in October, dropping 82% to $1.93 billion, and November's tally of $505 million suggests institutional accumulation has stalled.

Despite the selloff, some analysts see signs of stabilization. Vincent Liu of Kronos Research noted that ETF investors are not necessarily panic-selling, even as Bitcoin trades below $90,000. BlackRock's IBIT saw a brief $75.4 million inflow on Nov. 20 before reversing course, highlighting the volatility. The ETF's single-day outflow of $903 million on Nov. 21 marked one of the largest since its January 2024 launch.

The market's uncertainty extends beyond Bitcoin. Ether ETFs also faced $1.79 billion in outflows, while newly launched Solana (SOL-USD) and XRP (XRP-USD) ETFs attracted modest inflows of $300 million and $410 million, respectively. Citigroup's Lori Calvasina linked Bitcoin's volatility to broader financial market jitters, noting a record short-term correlation with tech stocks.

As the month closed, Bitcoin's fate hinged on macroeconomic developments and regulatory clarity. Citi analysts acknowledged that a regulatory breakthrough in 2026 could revive demand, but for now, the market remains in a "halving-season chill," with ETF flows and price action aligning with bearish scenarios.