Crypto · $BTC/USD
Bitcoin Sits Out the Stock Rebound as ETF Outflows Hit a Fourth Day and Crypto Liquidations Jump to $725 Million
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Bitcoin held near $74,000 while Nasdaq futures rose, with options traders favoring downside protection.
By Emmanuel Cruz ·
Bitcoin traded near $74,000 early on Wednesday, Nov. 11, barely moving even as Nasdaq-100 futures rose about 1.7% on CoreWeave's earnings, as U.S. spot bitcoin exchange-traded funds posted a fourth straight day of net outflows, CoinDesk reported [1].
As of 6:37 a.m. ET, bitcoin was down 0.7% over 24 hours and ether held near $2,050, down 1.7% [1]. Bitcoin had dipped to $72,700 during Tuesday's session, and it traded as low as just under $73,000 around late morning Eastern time, its weakest level since Aug. 20, according to CoinDesk's live coverage [2]. Yahoo Finance's Tuesday market report listed bitcoin at $73,445, down 2.05% [3].
Fund flows remain the clearest source of pressure. U.S. spot bitcoin ETFs lost $95 million on Tuesday, according to SoSoValue data cited by CoinDesk, and BlackRock's IBIT accounted for $78 million of that, its eighth straight session of redemptions [1]. The streak follows a heavy week: The Block reported that the funds had a net outflow of $1.28 billion last week, their worst since late June, which pushed year-to-date net flows negative by about $914 million [4]. On Friday alone, IBIT lost $403 million, and the fund held $60.3 billion in net assets against $65.1 billion in cumulative inflows [4].
Derivatives data showed forced selling. CoinGlass figures cited by CoinDesk put total crypto futures liquidations at $725 million over 24 hours, a 288% jump, with trading volume up 24% to $204.8 billion [1]. Bitcoin accounted for $200.5 million of the liquidations, 85% of them long positions, while ether liquidations were larger at $253 million even though its open interest is about half the size [1]. Zcash led altcoin liquidations at $40.3 million after falling roughly 13% to 14% [1].
Options positioning leaned defensive. On Deribit, put volume for bitcoin options expiring Nov. 12 to Nov. 27 was 1.5 times call volume, and eight of the 10 most active contracts were puts at strikes between $69,000 and $74,000, led by the Nov. 27 $69,000 put [1]. Implied volatility for at-the-money options was about 36% to 38%, and 25-delta puts traded roughly four to five volatility points above calls, a sign of persistent demand for protection against declines [1]. Bitcoin dominance rose to 60.5% and the Fear & Greed Index stood at 26, in the "fear" zone, CoinDesk said [1].
The macro setup is unfriendly. October consumer prices rose 0.4% overall and 0.3% at the core level, more than forecast, and CME FedWatch odds of a rate hike at the Dec. 8-9 Federal Reserve meeting climbed to about 90%, CoinDesk reported [1]. Yahoo Finance cited traders putting about 84% odds on a quarter-point hike and 15% on a half-point increase [3]. The sources give slightly different odds because they were taken at different times and from different tools.
The U.S. bond market was closed for Veterans Day, CoinDesk noted, a factor that can affect rate-sensitive trading [1]. Things to watch include whether ETF flows turn positive, how liquidations behave if bitcoin revisits Tuesday's low near $72,700, and whether options traders keep paying up for puts ahead of the Nov. 13 and Nov. 27 expiries [1].
Sources:
[1] CoinDesk, "Bitcoin sits out stock rebound as ETF outflows extend to fourth day: Crypto Markets Today", November 11, 2026. https://www.coindesk.com/markets/2026/11/11/bitcoin-sits-out-stock-rebound-as-etf-outflows-extend-to-fourth-day
[2] CoinDesk, "Live news: Bitcoin falls to nearly three-month low after disappointing inflation data", November 10, 2026. https://www.coindesk.com/markets/2026/11/10/live-news-traders-price-in-fed-rate-hike-for-december-as-bitcoin-and-gold-retreat
[3] Yahoo Finance, "Stock market today: Dow, S&P 500, Nasdaq slip as hot CPI fuels rate hike odds, Nvidia stock sinks", November 10, 2026. https://finance.yahoo.com/markets/live/stock-market-today-tuesday-november-10-dow-sp-500-nasdaq-inflation-data-cpi-090627830.html
[4] The Block, "Bitcoin ETFs flip negative for 2026 after $1.28 billion outflow week, worst since June", November 7, 2026. https://theblock.co/news/markets/2026-11-07-bitcoin-etfs-flip-negative-for-2026-after-1-28-billion-outflow-week-worst-since-june-435984
This article was produced with AI assistance. It is for informational purposes only and is not financial advice. StockVolt and its authors may hold positions in securities mentioned.