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Bitcoin Heads for a Fifth Straight Weekly Loss as ETF Investors Pull $1.28 Billion

NEW YORK — Bitcoin is heading for a fifth consecutive weekly loss after a bruising week in which the world's largest cryptocurrency fell to its lowest level since August, United States spot Bitcoin exchange-traded funds lost a net $1.28 billion, and a widely followed sentiment gauge sank into "Extreme Fear" for the first time since August. On Saturday afternoon, 7 November 2026, Bitcoin traded at $75,729 on Coinbase, down 3.2 percent from Monday's open of $78,232. With the week ending at Sunday's close, only a rally of more than 3 percent on Sunday would break the losing run.

Illustration: Golden Bitcoin coins in front of a large red candlestick chart falling sharply on a trading screen

Illustration: Golden Bitcoin coins in front of a large red candlestick chart falling sharply on a trading screen

What Happened

The week began quietly and ended in a rout. Bitcoin rose to $81,131 on Wednesday after the US midterm elections, its high for the week, before a sell-off in chip and artificial-intelligence stocks pushed the Nasdaq to its worst day in about 18 months on Thursday and dragged crypto down with it. On Thursday, 5 November, Bitcoin opened near $80,444 and fell about 5.3 percent to an intraday low of approximately $75,035, according to CryptoRank. By early Friday it was trading around $75,500, and the selling did not stop there.

On Friday, 6 November, Bitcoin briefly traded below $75,000 and touched $74,722, its lowest since 21 August, before recovering within minutes, Bitcoin Insider reported. A stronger-than-expected October jobs report on Friday added to expectations that the Federal Reserve could raise interest rates in December, putting further pressure on assets that pay no yield. Since midnight UTC on Saturday, Bitcoin has traded in a narrow range of about $75,670 to $76,150, holding above Friday's low but well short of Monday's open.

The sharpest damage showed up in the funds. United States spot Bitcoin exchange-traded funds recorded net outflows on four of the five trading days this week, according to Farside Investors, for a weekly total of $1,281.7 million — the largest weekly outflow since the week of 22 June, when $1,787.3 million left the funds. Only Wednesday, with a $74.6 million inflow, was positive. The daily pattern tells the story: $398.6 million left on Monday, $115.6 million on Tuesday, then $430.2 million on Thursday and $411.9 million on Friday.

BlackRock's iShares Bitcoin Trust, known as IBIT and the largest of the funds, accounted for most of the week's exits. IBIT lost a net $1,209.5 million over the week, including about $403 million on Friday alone, and has now recorded six straight days of outflows totalling $1,443.2 million since 30 October, according to Farside Investors. On Thursday, IBIT lost $105 million and Fidelity's Wise Origin Bitcoin Fund lost $99.9 million, followed by ARK 21Shares at $89.9 million and Grayscale's Bitcoin Trust at $49.9 million, with not a single fund recording a positive inflow that day. Fidelity's fund clawed back $42.8 million on Friday after losing $199.9 million on Thursday.

Ether funds fared no better. Spot Ether exchange-traded funds lost $365.2 million over the week, led by $345.9 million from BlackRock's ETHA, according to Farside Investors. It was their sixth consecutive week of net outflows; the last week with net inflows was the one beginning 21 September. Ether traded at $2,239 on Saturday afternoon, down 1.5 percent for the week, after falling roughly 8 percent on Friday to around $2,230, a 10-week low, according to JournalArta.

The wider market fell harder than Bitcoin. From Monday's open to Saturday afternoon on Coinbase, Solana was down 5.4 percent at $89.34, after falling about 6.6 percent on Friday and briefly slipping below $90. XRP was the weakest of the largest cryptocurrencies, down 7.5 percent for the week at $1.1552, after losing close to 9 percent on Friday to around $1.20 and falling more than 10 percent at one point, with no XRP-specific news behind it, according to JournalArta.

Leveraged traders were caught out by the speed of the drop. More than $1 billion in leveraged crypto positions was liquidated within 24 hours, JournalArta reported, with Bitcoin accounting for roughly $267 million and Ethereum about $167 million. Most of the wiped-out positions were bets that prices would rise. The Crypto Fear & Greed Index, published by Alternative.me, stood at 25 on Saturday, which the provider classifies as "Extreme Fear". It was 28 on Friday and 50 on Thursday, and the last reading this low was on 6 August.

Background

The fifth straight weekly loss would be the joint third-longest weekly losing streak on record for Bitcoin, according to CoinDesk. Across weeks 40 to 44, Bitcoin has fallen from around $87,000 to roughly $76,500. Its longest losing streak lasted eight weeks in 2022, between weeks 14 and 21, while earlier this year it recorded six consecutive weekly losses, from weeks 3 to 8. On Coinbase, Bitcoin has now fallen in each of the four previous weeks: by 3.3 percent in the week from 5 October, 2.0 percent from 12 October, 2.4 percent from 19 October and 2.3 percent from 26 October.

Illustration: Traders at desks on an institutional trading floor facing large screens showing falling red market charts and a Bitcoin symbol

Illustration: Traders at desks on an institutional trading floor facing large screens showing falling red market charts and a Bitcoin symbol

Each weekly loss has been modest, and that is part of what makes the run unusual. There has been no single-day collapse of the kind that defined earlier crypto winters. Instead, Bitcoin has ground lower week after week, with the sharpest swings coming only in this fifth week. The decline has been orderly, Bitcoin Insider noted: the weekly losses have been in single digits, Friday's low was recovered within minutes, and the pressure has come mostly from steady fund selling and risk-off moves in technology stocks.

The exchange-traded funds sit at the centre of the story because they have become the main channel through which institutional money reaches Bitcoin. The funds now drive a large share of daily demand, so a week of heavy redemptions removes a major source of buying at exactly the moment sentiment turns. By Thursday, the week's withdrawals had already pushed the funds' year-to-date flow balance into negative territory, according to JournalArta.

The week's turning point came on Wednesday, when Bitcoin rallied to $81,131 after the midterm elections, before the mood reversed. The Nasdaq's worst session in about 18 months on Thursday, driven by a sell-off in chip and artificial-intelligence stocks, set the tone, and Friday's stronger-than-expected October jobs report added a second blow by reviving the prospect of a Federal Reserve rate rise in December. Higher rates raise the return on cash and Treasury bills, which compete with assets such as Bitcoin that pay no yield. A separate headwind arrived on Thursday evening, when the United States Treasury took action against the exchange MEXC, a development covered in full in an earlier post. Not everyone expects the political backdrop to change the picture: Robert Mitchnick, BlackRock's head of digital assets, said at an investor forum in New York on Tuesday that the midterm result was unlikely to change the firm's crypto strategy, according to CoinDesk.

Why It Matters

The fifth weekly loss matters because it tests the story that has carried Bitcoin through 2026: that regulated funds would smooth out crypto's wild swings by bringing in patient institutional money. That story is now running in reverse. Six straight days of outflows from IBIT alone, totalling $1,443.2 million since 30 October, show the same channel can carry money out just as efficiently, at a scale that overwhelms buying from smaller investors.

It matters, too, because of what has not happened. There has been no exchange failure, no major hack and no single piece of catastrophic news behind this slide. The selling has been driven by familiar forces — weak technology stocks, shifting interest-rate expectations and regulatory uncertainty — which suggests Bitcoin is behaving less like an isolated crypto asset and more like any other risk asset in a nervous market. If Bitcoin now trades with the Nasdaq, it can no longer be counted on to rally when stocks fall.

The sentiment reading underlines how quickly the mood has turned. The Fear & Greed Index fell from 50 on Thursday, a neutral reading, to 25 on Saturday, its first "Extreme Fear" print since August. The index combines volatility, momentum, social-media activity and Bitcoin's share of the crypto market. It describes the mood of the market and does not predict prices, and some traders treat extreme readings as a contrarian signal.

For the wider crypto market, the week was a reminder that Bitcoin's losses can be the mild version. Ether, Solana and XRP all fell further than Bitcoin over the week, and XRP's Friday slide of close to 9 percent came with no token-specific news at all. More than $1 billion in leveraged positions was wiped out in a single day, most of them bets on rising prices — a measure of how much speculative leverage had built up during the post-election rally.

What Happens Next

The first test comes at Sunday's close. Whether Bitcoin ends the week below Monday's $78,232 open will decide if the fifth straight weekly loss is confirmed on Coinbase, and a Sunday rally of more than 3 percent would still be needed to avoid it. Monday's fund figures will then show whether the selling continued into a new week, and whether IBIT's six-day outflow run has ended.

Illustration: A worried investor looking at a huge stormy screen of red downward crypto market graphs under dark clouds

Illustration: A worried investor looking at a huge stormy screen of red downward crypto market graphs under dark clouds

The biggest scheduled event of next week is the October consumer price index, due from the United States Bureau of Labor Statistics on Tuesday, 10 November, at 8:30 a.m. Eastern. With the strong October jobs report having put a December Federal Reserve rate rise back on the table, the inflation data has become the more important release for the December decision. A hot reading would strengthen the case for a rise and put further pressure on Bitcoin; a soft one could give risk assets room to recover.

Traders are also watching the chart. Trading desks identified $75,000 as near-term support and $80,000 as a ceiling that had capped the recent rally, according to JournalArta, with the next technical levels flagged at $73,000 and $68,000 if volatility continues. Those levels were described as reference points, not forecasts. Wallets linked to Trump Media moved 4,259 Bitcoin to Crypto.com ahead of a 30 November note deadline, Bitcoin Insider reported; the transfer is not proof of a sale, but traders are watching it.

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FAQ

Is Bitcoin already down for a fifth straight week?

Almost, but not quite confirmed. On Saturday afternoon, 7 November 2026, Bitcoin traded at $75,729 on Coinbase, down 3.2 percent from Monday's open of $78,232. The week ends at Sunday's close, so a Sunday rally of more than 3 percent would still break the losing run. The four previous weeks ended lower by 3.3, 2.0, 2.4 and 2.3 percent.

How much money left the Bitcoin ETFs this week?

United States spot Bitcoin exchange-traded funds lost a net $1,281.7 million from Monday to Friday, according to Farside Investors, the largest weekly outflow since the week of 22 June ($1,787.3 million). BlackRock's IBIT accounted for $1,209.5 million of it, including about $403 million on Friday alone, and has now seen six straight days of outflows totalling $1,443.2 million since 30 October.

Why did Bitcoin fall so sharply on Thursday and Friday?

Two forces combined. A sell-off in chip and artificial-intelligence stocks pushed the Nasdaq to its worst day in about 18 months on Thursday, dragging crypto down with it, and a stronger-than-expected October jobs report on Friday revived expectations of a Federal Reserve rate rise in December. Bitcoin fell about 5.3 percent on Thursday from an open near $80,444, and touched $74,722 on Friday, its lowest since 21 August.

What does "Extreme Fear" mean on the Fear & Greed Index?

The Crypto Fear & Greed Index, published by Alternative.me, stood at 25 on Saturday, which the provider classifies as "Extreme Fear". It was 28 on Friday and 50 on Thursday, and the last reading this low was on 6 August. The index combines volatility, momentum, social-media activity and Bitcoin's share of the crypto market; it describes market mood and does not predict prices.

What should traders watch next week?

Three things: Sunday's close, which decides whether the fifth weekly loss is confirmed; Monday's ETF flow figures, which will show whether the selling continued into a new week; and the October consumer price index, due Tuesday, 10 November, the key release for the Fed's December rate decision. Trading desks have flagged $73,000 and $68,000 as the next technical levels if Bitcoin breaks lower.

Sources

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