According to Coinglass data, U.S. spot Bitcoin ETFs recorded net outflows totaling $1.44 billion over five consecutive days between November 5 and November 11. BlackRock's iShares Bitcoin Trust (IBIT) accounted for $269.7 million of the outflows on November 11 alone, representing the majority of the selling pressure. The consecutive redemptions come as Bitcoin traded near $73,500, struggling to reclaim the $75,600 level where short-term holders' cost basis sits. Notably, Morgan Stanley's Bitcoin ETF attracted $9 million inflows during the same period, offering a modest counterpoint to the broader ETF-wide selling trend.

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