Bitcoin News Today: Institutions Double Down as Bitcoin ETFs Bleed $3B in November

Bitcoin fell below $92,000 on Tuesday, with the 24-hour gain narrowing to 0.9%, as the cryptocurrency grapples with renewed selling pressure and institutional outflows. The price decline marked a return to levels last seen in April 2025, when a similar correction saw Bitcoin drop from $109,000 to $76,000 over 80 days. This week's selloff, now 43 days long, has erased 30% of the gains from Bitcoin's October all-time high of $126,250, according to data from Coindesk. The current correction has also pushed Bitcoin below the 2025 realized price of $103,227, meaning the average investor who bought in this year is now facing a 13% loss according to the same data.

The downturn has been exacerbated by record outflows from spot Bitcoin ETFs, led by BlackRock's iShares Bitcoin Trust (IBIT). Farside Investors reported $372 million in net outflows for the asset class on Tuesday, bringing November's total redemptions to $2.96 billion. BlackRock alone accounted for $2.1 billion of those outflows, with its fund logging a record $523 million in redemptions on Monday. This trend has placed Bitcoin ETFs on track for their worst month since February 2025, despite November historically being a strong period for the asset. CoinGlass data notes that Bitcoin typically gains 41.22% during the month.

Institutional players have also moved to bolster their positions. DDC Enterprise announced a partnership with Kraken to enhance its Bitcoin treasury operations, gaining access to institutional-grade trading and custody solutions. Meanwhile, corporate Bitcoin holdings continue to grow, with Strategy reporting $10 billion in second-quarter gains from its Bitcoin portfolio as the price surged 30% during the period. The firm, led by Michael Saylor, has expanded its Bitcoin holdings to 628,791 coins, projecting a full-year net income of $24 billion if the year-end price reaches $150,000.

The market found a brief reprieve after Nvidia's blockbuster third-quarter earnings report. The chipmaker's data center revenue hit $51.2 billion, exceeding expectations and reinforcing its role as a linchpin in the AI boom. The news sent Bitcoin rebounding above $90,000 from a low near $88,000 earlier in the day. AI-linked tokens also saw gains, reflecting renewed optimism in the sector.