Institutional demand for spot digital assets took a sharp hit on November 5, 2026, when BlackRock (NYSE: BLK) registered a $104.97 million net outflow from its iShares Bitcoin Trust (IBIT). As reported, the single-day redemption coincided with a steep correction in the underlying asset, dragging Bitcoin down from above $80,000 to an intra-day low of $75,114 before stabilizing near $76,066.
Bitcoin Tests Moving Average Amid Global Equities Sell-Off
- Institutional Retreat: The IBIT fund recorded $104.97 million in net outflows on November 5, extending a five-day selling streak across late October and early November.
- Price Volatility: Bitcoin declined 5.25% over a 24-hour window, testing the crucial 50-week simple moving average at $75,733.
- Global Risk-Off: The digital asset sell-off accompanied broad equity market contractions, including steep losses in U.S. indexes and an 8% drop in South Korea’s KOSPI index.
BlackRock Fund Extends Five-Day Bitcoin Selling Streak
According to SosoValue figures cited, the $104.97 million net withdrawal extended a difficult period. The session marked the fifth consecutive day of reported Bitcoin selling by BlackRock, carrying momentum over from late October into early November. Concurrently, it was noted that IBIT logged its fourth negative trading session of that specific week.
The five-day sequence captures the continuous daily distribution trend, whereas the four negative sessions highlight the intra-week concentration of capital flight. Crucially, reporting indicated that BlackRock had not registered any new Bitcoin purchases during the opening days of November prior to the $104.97 million redemption.
Global Equities Fall as Bitcoin Breaches Threshold
Bitcoin’s descent from a high exceeding $80,000 down to $75,114 unfolded alongside a synchronized liquidation across global risk assets. U.S. technology stocks absorbed heavy losses on Thursday, pulling major benchmarks lower. The S&P 500 closed down 4.4%, while the Nasdaq Composite fell 5.5%.
In Asian trading hours, South Korea’s KOSPI index dropped more than 8% shortly after opening. The plunge triggered an automated 20-minute trading halt before the index closed 6% lower at 5,059.69 points. Amid recent market volatility, Bitcoin found temporary technical support near its 50-week simple moving average at $75,733.
| Index / Asset | Recorded Metric | Performance / Movement |
|---|---|---|
| BlackRock IBIT ETF | Daily Net Outflow | -$104.97 million (Nov 5) |
| Bitcoin (BTC) | 24-Hour Price Range | From >$80,000 to $75,114 |
| S&P 500 | Daily Close | -4.4% |
| Nasdaq Composite | Daily Close | -5.5% |
| South Korea KOSPI | Daily Close | -6.0% (at 5,059.69) |
Monitoring Institutional Flows and Technical Support
Market participants now focus on whether the five-day outflow streak will persist through subsequent ETF settlement cycles or if institutional allocators will step back in near the $75,000 psychological threshold. With roughly $45.3 billion recorded in 24-hour trading volume on CoinGecko, market liquidity remains high despite the sharp repricing.
Future sessions will test the resilience of spot Bitcoin products against persistent macroeconomic headwinds.
Disclaimer: The information provided in this article is for educational and informational purposes only and does not constitute financial advice.
