The spot Bitcoin ETFs in the United States, those glittering beacons of financial alchemy, erected a new monument to their insatiable thirst for liquidity on Friday, an occasion experts deemed “wild but normal,” as if chaos were a daily ritual.
This transpired amid the underlying asset’s tumultuous tango, which pirouetted between $80,000 and a five-grand rebound, as if the market itself were a fickle lover, alternating between despair and delirium.
BTC ETFs See New Record
Bloomberg’s senior ETF analyst Eric Balchunas, a man whose words carry the weight of a thousand cryptic prophecies, likened the events to a “volcanic outburst” of transactions, with $11.5 billion swirling through the ether. After declaring this “wild but also normal,” he mused on the causes, suggesting ETFs function as liquidation release valves-though one might argue they’re more like financial exorcists, exorcising doubt with every trade.
Also no surprise record week for Put volume in $IBIT.. this is one thing that may help ppl stay the course, they can always buy some puts as hedge while they stay long. This was something big investors loved about $SPY when it was first launched back in ’90s.
– Eric Balchunas (@EricBalchunas) November 21, 2025
Unsurprisingly, the world’s largest BTC ETF, a titan of the market, bore the brunt of the action, accounting for $8 billion of the total chaos. IBIT, which has languished in a negative streak for weeks, saw $122 million flee its shores yesterday-a testament to the fickle nature of investor sentiment. Curiously, it has turned green only once in the past eight trading days, like a dandelion struggling to bloom in a storm.
Yet, the day proved a triumph for ETFs as a collective, with $238.4 million flowing in. The week, however, was a graveyard of losses, with over $1.2 billion vanishing, according to FarSide data-a fiscal funeral march for the bears.
BTC Price Update
These withdrawals, like a siren’s song, have driven BTC’s price into a nosedive. Recall that the asset began the previous week at $95,000, only to plummet by nearly $15,000 in days, bottoming below $81,000 on Friday-a financial freefall worthy of a Shakespearean tragedy.
When the New York Fed President John Williams offered a flicker of hope that the central bank might lower interest rates, BTC leapt to $85,000, as if the market had finally found its footing. Yet, the cryptocurrency has since tumbled 32% from its all-time high, leaving many to ponder whether the bears now reign supreme, their claws buried deep in the market’s jugular.
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2025-11-22 10:26