Bitcoin Price Teeters Near $93K as ETF Outflows, Thin Liquidity Amplify Downside

first published 2025-11-18T08:58:30Z

Glassnode reports the flow-weighted average cost basis of US spot Bitcoin ETF inflows (~$89,600) was breached as BTC fell ~30% since early October. Bitcoin traded near $91,000 at one point, prompting about $2.8 billion in net outflows from the 12 US spot ETFs so far in November; analysts warn most 2025 institutional buyers are now underwater amid roughly $1.2 trillion of market value erased and elevated volatility.

AI Analysis

Flow-weighted average cost basis across ETF inflows (~$89,600 per Glassnode) was breached; Bitcoin has fallen roughly 30% since early October and traded around $91,000; the 12 US spot Bitcoin ETFs saw net outflows of about $2.8 billion in November; analysts warned the majority of 2025 institutional buyers are now underwater and wider crypto weakness has erased about $1.2 trillion of market value; the ETF complex has expanded to over 110 crypto-related ETFs but volatility remains high.

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