Bitcoin News: BlackRock Leads Near $3B Bitcoin ETF Exodus in November With Record $523M Outflows

U.S. spot bitcoin ETFs are on track for their worst month ever, with nearly $3 billion in net outflows in November as the market faces a fresh technical breakdown, fading Federal Reserve rate-cut expectations, and rising “smart money” short positioning. BlackRock’s flagship bitcoin ETF is leading the exodus after posting its largest daily redemption on record.What to KnowU.S. spot bitcoin ETFs have seen $2.96 billion in November outflows so far.BlackRock’s IBIT recorded $523M in single-day outflows — its largest since launching in Jan. 2024.November could surpass February’s $3.56B outflows, the worst month to date.Bitcoin’s fourth cycle death cross and collapsing December rate-cut odds are weighing on sentiment.Smart money traders added $5.7M in new short positions in the last 24 hours.Bitcoin ETF Outflows Near $3B as BlackRock Sees Record Daily RedemptionsSpot bitcoin ETFs extended their selling streak into a sixth straight day, recording another $372 million in net outflows Tuesday, according to data from Farside Investors.BlackRock’s iShares Bitcoin Trust (IBIT) — the world’s largest bitcoin ETF — saw $523 million in outflows, its biggest exit day since its debut.That figure brings BlackRock’s month-to-date redemptions to $2.1 billion, making the firm responsible for nearly 71% of all November outflows.Total U.S. spot bitcoin ETF outflows for the month have now reached $2.96 billion, with another wave of selling likely to push the figure past February’s record $3.56 billion.Bitcoin ETFs Face Worst Month Despite November's Historically Bullish TendenciesBitcoin ETF outflows come at an unusual time historically — November is normally Bitcoin’s strongest month, with an average 41.22% gain, according to CoinGlass data.This year, however, heavy redemptions have combined with macro and technical headwinds to pressure prices lower.Standard Chartered’s head of digital assets research, Geoff Kendrick, recently reiterated that ETF inflows were the primary force driving Bitcoin’s 2025 rally — making the sudden reversal especially impactful.Ether ETFs See Outflows; Solana Funds Attract New InflowsElsewhere in the crypto ETF market:Ether ETFs saw $74.2 million in outflowsSolana ETFs attracted $26.2 million in new inflowsTotal cumulative inflows into Solana ETFs since launch now exceed $421 millionThe divergence reflects shifting risk appetite as investors rotate between Layer 1 assets amid heightened macro uncertainty.Falling Rate-Cut Odds Weigh on Crypto SentimentPressure intensified after Bitcoin printed its fourth death cross of the cycle last week — a bearish technical pattern where the short-term moving average falls below the long-term trend line.The timing coincides with a deterioration in the macro outlook:December rate-cut odds have fallen from 93.7% one month ago to 46%, per CME’s FedWatchLiquidity remains fragileMarket makers are reporting financial stress, according to Bitmine Immersion chairman Tom LeeBitget analyst Lacie Zhang said the death cross should be viewed within the broader macro context:“This time, the signal comes at a moment when liquidity is only starting to stabilize, December rate-cut odds have fallen from near-certainty, and market risks remain unresolved.”Smart Money Turns Bearish as Shorts Build Across Futures MarketsNansen data shows that top-performing traders — tracked as “smart money” — have shifted to a meaningfully bearish stance:They added $5.7 million in cumulative short positions in the last 24 hoursSmart money traders are now net short $275 million on BitcoinThe positioning shift suggests expectations for further downside in the near termThe platform’s data indicates a steady rotation from long leverage to defensive short-term trades as volatility increases.November Could Break Records as Sentiment DeterioratesWith almost $3 billion already pulled from bitcoin ETFs and rate-cut expectations falling sharply ahead of the Fed’s December meeting, November is shaping up to be one of the worst months for ETF flow momentum since spot products launched.If selling persists at the current pace, the month could close with the largest net redemptions on record, adding further pressure to crypto markets already struggling with technical breakdowns and weakening liquidity.