BlackRock's iShares Bitcoin Trust (IBIT) recorded $213 million in net outflows on Monday, November 9, 2026, according to BitKE, extending its withdrawal streak to seven consecutive trading sessions.

That takes cumulative outflows since October 30, 2026 to $1.66 billion, based on Farside Investors data cited by the publication. The redemptions come more than a week after the historic $6.3 billion Binance hack, which shook institutional confidence in crypto custody and exchange infrastructure.

US-listed spot Bitcoin ETFs as a group saw $201 million in combined net outflows on Monday, only partly offset by $22 million of inflows into Morgan Stanley's Bitcoin Trust ETF.

The continued redemptions mark a sharp reversal from 2024 and 2025, when US spot Bitcoin ETFs attracted roughly $25 billion in net inflows by early November in each year, as BitKE reports.

The largest spot Bitcoin ETF — the very product Wall Street pitched as the institutional on-ramp for Bitcoin — is now the epicenter of the selling, rather than a shelter from it.

Even more striking, the pressure has spread beyond Bitcoin: Ether investment products recorded approximately $185 million in outflows on Monday, their largest daily withdrawals since October 6, 2026.

The numbers trace the deterioration day by day, per BitKE.

Monday's $213 million IBIT withdrawal slowed from $412 million on Friday, November 6, but the broader spot Bitcoin ETF complex has shed roughly $1.5 billion in net outflows over the past six trading sessions, and year-to-date net outflows across the funds now sit at approximately $1.1 billion.

The institutional exodus lands on a Bitcoin market already on the edge. Analyst Josh of Crypto World told Coinpedia that a daily close below $73,000 to $74,000 would open a $65,000 to $67,000 target, where a large cluster of liquidation orders sits.

Meanwhile, Bitcoin dominance is testing 60.5% to 61%, a ceiling that, if broken, Coinpedia warns could be 'devastating' for altcoins.

Not everyone reads the flows as terminal.

The Motley Fool notes that Bitcoin briefly dipped below $77,000 ahead of the midterms and then rallied back toward $80,000, and that midterm 'bust' years (2014, 2018, 2022) have historically been followed by strong years — Bitcoin gained 34% in 2015, 94% in 2019 and 156% in 2023.

Prediction market traders currently give Bitcoin only a 13% chance of hitting $100,000 this year, but the publication argues the post-midterm bounce suggests better odds of reclaiming that level in 2027.

The next signal for institutional sentiment is simple: whether IBIT's outflow streak ends or extends toward a second full week of redemptions.

Coinpedia's analyst view holds that the next few days could set the market's direction for the following two to three weeks, with a possible bullish divergence on Bitcoin's 12-hour chart offering 'last chance' conditions for a short-term relief bounce — though any further drop would cancel the signal.

Until flows stabilize and Bitcoin reclaims $76,000, ETF redemptions and rising Bitcoin dominance point to a defensive market where altcoins, especially XRP near $1 support levels, remain the weak link.