Bitcoin News Today: Spot ETFs Bleed $2.3B as Bitcoin Braces for New Lows

Bitcoin, Ethereum, Dogecoin Dip, While XRP Ticks Up: Analyst Assumes BTC Will Test New Lows In Upcoming Week

The cryptocurrency market entered a turbulent phase in late November 2025, with Bitcoin (BTC) and Ethereum (ETH) experiencing significant declines amid widespread outflows from spot ETFs. The U.S. market's muted response to the government's reopening and broader economic uncertainty have compounded investor frustration, pushing BTC below six-month lows at $94,175 and ETH to $3,070-a-level not seen since mid-July. Analysts warn that the bearish trend may persist, with Bitcoin potentially testing new price floors in the coming week.

Spot Bitcoin ETFs, which had been a cornerstone of institutional crypto adoption, have hemorrhaged over $2.33 billion in November alone. The month is on track to become the worst in history for this asset class, with three consecutive days of outflows totaling $1.6 billion. According to SoSoValue data, the situation worsened during the Nov. 13 session, the worst in nearly nine months. Ethereum's spot ETFs fared even worse, losing $1.24 billion in November and recording four consecutive red sessions. These outflows reflect a broader market panic triggered by Bitcoin's 13.3% drop in the past month, despite the asset remaining 24.8% below its all-time high.

Glassnode, a blockchain analytics firm, described Bitcoin's current state as being "stuck in consolidation limbo." While the price rebound to $106,000 temporarily reignited buyer interest, a dense supply cluster between $106,000 and $118,000-where many investors exit to break even-has created a formidable resistance zone. "A sustained recovery will require renewed inflows strong enough to absorb this wave of distribution," the firm noted. This dynamic, coupled with the U.S. market's sluggish post-shutdown performance, has left investors cautious.

Meanwhile, XRP has shown resilience. Its spot ETF, managed by Canary Capital, recorded a record $243 million inflow on its first trading day-a stark contrast to the outflows plaguing BTC and ETH. However, XRP and smaller ETFs for Solana (SOL) and Litecoin (LTC) remain unprepared to absorb the liquidity drain from top-tier funds.

The broader market's struggles are evident: 80 of the top 100 cryptocurrencies fell in the past 24 hours, with total market capitalization slipping to $3.57 trillion. While 35-45% corrections are typical in bull markets, the current 24.8% drawdown for Bitcoin raises concerns about deeper losses. Analysts remain divided on a near-term reversal, with some suggesting the market may need to "wash out" weak hands before a meaningful recovery.