Last updated: November 2, 2026
A $643 million single-day exodus from U.S. spot Bitcoin ETFs — the largest since June — has wiped out nearly two-thirds of the year’s net inflows, leaving Bitcoin consolidating near $78,000 as traders brace for a data-heavy week capped by Tuesday’s midterm elections and Friday’s jobs report.
ETF Outflows Deepen as Bitcoin Struggles to Hold $78,000
Friday’s $643.3 million redemption from spot Bitcoin ETFs was the largest since June 25, erasing roughly 64% of 2026’s net inflows in a single session.
What Happened
U.S. spot Bitcoin ETFs saw a net outflow of $643.3 million on Friday, October 30, the largest single-day redemption since a roughly $696 million outflow on June 25, according to SoSoValue data. BlackRock’s IBIT led the exodus at $233.7 million, followed by Fidelity’s FBTC (-$201.4 million), ARK’s ARKB (-$129.5 million) and Grayscale’s GBTC (-$53.3 million). The fund group had entered Friday with just over $1 billion in year-to-date net inflows and finished the session near $368 million — meaning Friday’s single-day outflow erased roughly 64% of the year’s net inflows. The prior four sessions had actually added back about $440.8 million, but the week still closed at a net outflow of roughly $202.5 million, leaving total assets across the funds near $98.14 billion. The move compounds an already rough stretch for crypto that included a hawkish Federal Reserve hold, a record-scale Binance hack, and a CPI-driven rate-expectations shock earlier in October.
Market Reaction
Bitcoin has struggled to hold above $78,500 after briefly dipping toward $76,300 on Friday, trading recently near $78,000. Resistance sits at $78,500, then $80,000 and the $82,000-$83,000 zone that has capped several bounce attempts since October. Support comes in near $77,000, then $76,300, $76,000 and $75,000, with $73,000 as the next level of consequence below that. QCP Capital has previously flagged the $80,000-$82,000 range as a buying zone for longer-term holders, though sentiment has turned more cautious after repeated failed breakouts above it.
Why It Matters
Two scheduled catalysts could move the next leg: Tuesday’s U.S. midterm elections and Friday’s October employment report, both widely seen as wildcards for risk appetite heading into December. Crypto is also competing for investor attention with one of the year’s busiest equity earnings weeks — see FactSheets’ Apple and AMD earnings previews — as traders weigh whether capital rotates back into risk assets or stays defensive. The outflows also follow closely on the heels of Binance’s record $6.3 billion hack disclosed last Friday, which has kept custodial-risk concerns elevated across the market. For crypto-adjacent equity exposure, see FactSheets’ Big Digital Energy (BGDE) stock fact sheet, ongoing Crypto coverage, and the Stock Fact Sheets hub.
For informational purposes only. Not investment advice. Cryptocurrency prices are highly volatile and figures cited above are as of the time of publication and subject to rapid change; always do your own research or consult a licensed financial advisor before making investment decisions.
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