Bitcoin News Today: Harvard Backs Bitcoin as ETFs Bleed $19B in Turbulent Correction

Bitcoin's recent turbulence has triggered $19 billion in liquidations, with spot ETFs hemorrhaging capital as macroeconomic uncertainty and profit-taking collide. On Nov. 13, Bitcoin ETFs recorded $866.7 million in net outflows, the second-largest single-day redemption since their January 2024 launch, according to Farside Investors data. The exodus was led by Grayscale's Bitcoin Mini Trust ($318 million) and BlackRock's IBIT ($257 million), with Bitcoin itself dropping below $100,000 for the first time since May 2025.

The sell-off intensified as Bitcoin slumped to $94,890.52 by Nov. 14, marking a 25% drawdown from its October peak. Derivatives markets amplified the pressure, with $190 million in Bitcoin longs liquidated as spot prices collapsed. Institutional risk limits were triggered, compounding ETF redemptions. Meanwhile, the debut of the first U.S. spot XRP ETF on Nov. 13 attracted $250 million in inflows, signaling a rotation into alternative crypto narratives, though outflows in Ethereum and Solana ETFs underscored the broader risk-off sentiment according to analysis.

The redemptions, part of a three-week $2.6 billion outflow, reflect a de-risking wave driven by shifting macroeconomic expectations. The resolution of the record 43-day U.S. government shutdown reduced the likelihood of a December Federal Reserve rate cut, prompting investors to shift into cash, bonds, and gold. Total assets under management in Bitcoin ETFs remain above $80 billion, but the 3% drawdown aligns with historical patterns during risk-off episodes. Analysts note the $94,890.52 level represents a technical juncture, with further support at $93,000-a-level last tested in early 2025 according to technical analysis.

Amid the turmoil, Harvard University's endowment made a rare foray into Bitcoin, allocating $443 million to BlackRock's IBIT. This move highlights institutional confidence in Bitcoin's long-term potential despite short-term volatility. Meanwhile, the crypto Fear & Greed Index plummeted to 10-the lowest since late February-reflecting extreme fear amid a 5.8% drop in the broader market according to market data.

Technical indicators add to the uncertainty. Bitcoin's approach to a "death cross" pattern-a bearish signal where the 50-day moving average crosses below the 200-day-has historically preceded major market bottoms. Previous death crosses in 2023, 2024, and 2025 coincided with local lows, raising questions about whether the current correction will follow suit. However, the 25% drawdown is less severe than the April 2025 correction, which saw prices fall below $75,000.

Bitcoin mining firms face additional challenges. American Bitcoin (ABTC) reported $43 million in operational cash burn for Q3 2025, echoing struggles across the sector. Companies like Riot (RIOT) and Marathon (MARA) have similarly relied on ATM offerings to sustain operations, with many pivoting to AI infrastructure to offset declining mining profitability post-halving according to industry reports.

Corporate updates highlight diverging strategies. Matador Technologies closed a $100 million convertible note facility, bolstering its Bitcoin accumulation capacity, while Digi Power X expanded its at-the-market equity program. Regulatory scrutiny also intensified, with Brazil planning a crypto tax crackdown on cross-border transactions to close loopholes according to regulatory updates and market analysis.

The crypto landscape remains polarized. While Kraken's $20 billion valuation in an $800 million funding round signals investor optimism, Bitcoin's test of $94,000 support underscores the fragility of current gains. Whether this marks a capitulation bottom or extended consolidation hinges on macroeconomic clarity and institutional re-entry according to market analysis.