Bitcoin ETFs Bleed $1.28B in a Week as BTC Slides Toward $75K Test

Bitcoin is nursing a 6% two-day hangover. The coin trades at $75,937, down since November 5, as jitters over a selloff in AI and tech stocks spill straight into crypto. Spot Bitcoin ETFs took the hit: $1.28 billion walked out the door in the week from November 2 to November 6, per SoSoValue — their heaviest weekly outflow since the week ending June 26.

That marks two straight weeks of redemptions for BTC funds, though they're still faring better than Ethereum ETFs, which have now bled for six weeks running. The logic is simple: institutions trimming risk exposure means softer demand for Bitcoin, and retail traders watching that exit can get spooked fast. According to CoinGape, Maelstrom co-founder Arthur Hayes had already warned that a looming AI collapse could drag BTC lower.

Sentiment has cratered into extreme fear, and short-term holders are feeling it. CryptoQuant data shows profit-taking coins sent to exchanges by this group collapsed from 29,849 BTC to 4,089 BTC, while loss-making coins jumped from 2,559 BTC to 32,695 BTC. Losses now make up 89% of their exchange inflows — not proof of a sale, but a flashing warning that selling pressure could build.

Here's the twist: reserves aren't swelling. CoinGlass puts exchange holdings at 2.59 million BTC, down from 2.6 million on November 4 — roughly 10,000 BTC pulled off exchanges even as prices sagged. That divergence is Bitcoin's best argument for defending $75,000. If sellers pile in harder, though, the floor could crack.

The weekly chart isn't doing bulls any favors either. Bitcoin has been carving a rounded top, a pattern that often precedes a bearish reversal. A weekly close below support at $75,900 would strengthen the downtrend and open the door to the 200-week EMA at $69,500. To the upside, resistance sits at the 100-week EMA of $78,900 — clear that, hold $81,000, and $85,000 comes into play, though the RSI has slipped below 50 and handed the bears the momentum.

Next week brings fresh fuel for volatility with US inflation data on deck. Between macro prints and the ongoing AI anxiety, the $75,000 line is about to get its sternest test.