Bitcoin Breaks Below 75K as ETF Outflows Hit $1.28B

Bitcoin has dropped for five consecutive weeks, sliding from roughly 87K to near 74K, and the selling pressure has a measurable driver: US spot Bitcoin ETFs bled about $1.28 billion in net outflows in the week of November 2–6, per data cited by TradingView analyst sabiotrade. That was the weakest week for the funds since late June.

The price action confirms the deterioration. Bitcoin broke the 75K support level and is holding below it, according to the analyst's chart note on BITSTAMP:BTCUSD. The downtrend line drawn from the late-September high remains intact, and lower timeframes point down too.

What are the key levels traders are watching?

The technical map is straightforward, and 75K sits at the center of it.

• 75K, formerly support, is now the first level to retest from below.
• The nearest support sits around 67K — the July highs area that previously acted as resistance.
• The yearly low rests at 57.8K.

While price stays below 75K, sellers keep control of the trend, the analyst wrote, and 67K is the next support to watch. A bounce back into 75K would be the first test of whether the broken level now acts as resistance.

How much money is leaving the ETFs?

The outflow figure matters because US spot Bitcoin ETFs have been a primary engine of demand. Roughly $1.28 billion exited in a single week — the worst reading in more than four months.

That institutional pullback didn't happen in isolation. More than $1 billion in liquidations accelerated the move below 75K, the analyst noted. Market sentiment now sits in fear territory.

Why is regulation adding to the pressure?

The political backdrop has shifted. After the midterms, the CLARITY Act — a crypto market structure bill — looks stalled, which adds regulatory uncertainty for US digital asset markets.

The absence of legislative clarity removes a support pillar that bulls had counted on through much of the year. It also leaves exchanges and institutional allocators without the market-structure framework the bill promised.

What is the Fed doing to risk appetite?

Macro data has turned against speculative assets. US payrolls rose by 165,000 in the latest report against roughly 60,000 expected — a blowout that flipped rate expectations.

Markets now lean toward a rate hike rather than a cut at the December 8–9 Fed meeting, according to the analysis. The CPI report due November 10 is the next data point to watch. A hot inflation print would strengthen the hawkish case and likely keep pressure on risk assets, Bitcoin included.

Can the bearish view be invalidated?

The analyst laid out two scenarios that would challenge the downtrend.

• Invalidation: a sustained move back above 75K and a break of the downtrend line from the late-September high would weaken the bearish view.
• Counterpoint: fear and forced selling often cluster near local lows, so a sharp bounce is possible even within a downtrend.

That second point deserves weight. Liquidation cascades tend to overshoot, and $1 billion in forced exits mechanically depresses price beyond what fundamentals justify. A violent relief rally into the 75K retest wouldn't be unusual from a positioning standpoint.

What happens next?

The near-term path hinges on three catalysts: the November 10 CPI print, the December 8–9 Fed meeting, and whether ETF flows stabilize after their worst week since June. Until Bitcoin reclaims 75K and breaks its downtrend line, the burden of proof sits with buyers — and 67K is the level the market will defend next.

The analyst's note is for educational purposes only and is not financial advice.