BlackRock's bitcoin ETF has lost more than $2 billion in nine straight sessions as the Fear and Greed Index sinks to 20, its lowest since July 8

BlackRock's iShares Bitcoin Trust has lost more than $2 billion over nine straight sessions of net outflows through Wednesday, Cointelegraph reported, citing Farside Investors data. On Wednesday, November 11, it shed $269.7 million, about 90% of the roughly $300 million that left all US spot bitcoin ETFs that day. Across all US spot bitcoin ETFs, outflows came to nearly $1.44 billion over five sessions. Preliminary Farside figures showed another $47.7 million leaving on Thursday, with BlackRock and Fidelity numbers still pending.

The selling coincides with weaker sentiment. The Crypto Fear and Greed Index fell to 20 on Friday, "extreme fear" and its lowest reading since July 8, and bitcoin traded near $68,600 at the time of writing, down 9.2% over the week per CoinGecko. 10x Research said the 10-year Treasury yield rose above 5% and that bitcoin fell 5.9% between November 5 and 12 while the Nasdaq 100 rose 6.4%. Talos reported that bitcoin order-book depth was $72 million on November 9, about 33% below normal.

Analysts quoted by Cointelegraph focused on liquidity and leverage. Talos's Tanay Ved warned that thin liquidity and heavy leverage leave the market open to sharp moves in either direction. Cryptoweek reports flows and does not give investment advice.