U.S. spot Bitcoin exchange-traded funds experienced their largest weekly net outflows since late June, shedding roughly $1.28 billion to $1.3 billion in the most recent reporting period. This marked the second consecutive week of redemptions and pushed the funds’ year-to-date net flows for 2026 into negative territory, at approximately $914 million.
The outflows occurred across most trading days, with only one modest positive session mid-week, according to aggregated flow data.
BlackRock’s IBIT fund accounted for a substantial share of the selling pressure, while a few other products such as Fidelity’s FBTC saw smaller inflows on certain days.
The prior comparable week, ending around June 26, had seen even larger withdrawals of about $1.79 billion.
These institutional redemptions added to broader selling pressure as Bitcoin’s price action turned volatile over the weekend.
Late Sunday, Bitcoin’s price declined sharply from around $75,690 to approximately $73,477 within a 15-minute window, touching levels not seen since August before staging a recovery.
The move occurred amid relatively thin weekend liquidity, when traditional equity and bond markets were closed.
The decline coincided with two developments that market participants treated as risk-off signals: reports surrounding Nvidia’s chief executive and comments from U.S. Secretary of State Marco Rubio indicating that negotiations with Iran had made little progress.
Liquidations of leveraged positions exceeded $1 billion over a 24-hour period, with a large portion coming from long bets that prices would rise.
Ether also saw significant forced selling, briefly falling below $2,100 before rebounding. Bitcoin subsequently recovered to trade back above $75,000, illustrating the two-way price swings that can amplify losses for leveraged traders.
The Nvidia-related developments centered on CEO Jensen Huang’s admission of an extramarital relationship with Alice Huang, a business executive whom U.S. intelligence officials have assessed as working for Chinese intelligence services.
Nvidia’s board announced an independent investigation into the matter following reporting that U.S. agencies had monitored the relationship and concluded Alice Huang, an executive associated with Singapore-based data center firm Megaspeed, was gathering information for Beijing’s Ministry of State Security.
Huang issued an internal statement apologizing to his family and employees, stating he had been unfaithful and that there was no excuse for his actions.
The company indicated the board saw no immediate evidence that company secrets or national security had been compromised and that Huang remained committed to his role, though the inquiry would proceed.
Nvidia shares and related perpetual futures contracts reacted to the news, contributing to the risk-off tone that spilled into cryptocurrency markets trading over the weekend.
In other recent developments, Rubio stated that U.S.-Iran talks had stalled, describing Iranian demands as unacceptable, outrageous, and unrealistic while noting that no breakthrough was imminent.
He spoke ahead of a G7 foreign ministers meeting, emphasizing that diplomatic efforts continue through various channels but have not been productive.
These comments, combined with the Nvidia headlines, appeared to weigh on sentiment in the 24/7 digital asset markets.
In a contrasting development on the Bitcoin network itself, blockchain activity reached a notable milestone on Saturday, November 7, 2026.
A single block processed 11,255 transactions, the second-highest total in the network’s history.
This approached the long-standing record of 12,239 transactions set in a block from August 1, 2015.
The recent block, roughly 1.1 MB in size and near the weight limit, was enabled in part by compact transaction formats associated with protocols such as Runes and SegWit.
The year 2026 has already featured several of the network’s highest daily transaction counts, reflecting elevated on-chain activity even as price volatility persisted.
Miners continue to optimize packing techniques, raising the possibility that the 2015 mark could be surpassed.
The combination of substantial ETF outflows, a rapid price swing driven by external news in low-liquidity conditions, and more than $1 billion in liquidations underscores the sensitivity of Bitcoin markets to both institutional flows and broader geopolitical or corporate developments.
While the network demonstrated strong transaction throughput over the weekend, price action remained reactive to headlines outside the cryptocurrency sector. Investors will watch traditional market openings and any further updates on the Nvidia investigation or Iran negotiations for signs of whether the weekend moves extend into the new trading week.
