Historical Analysis Links Bitcoin ETF Outflows to Market Bottoms as Third-Highest Event Unfolds.

Bitcoin has retreated roughly 6% since achieving its record high on Nov. 13, as investors take profits following the recent surge.

On Thursday, U.S.-listed bitcoin (BTC) exchange-traded funds (ETFs) faced their third-largest outflows on record, with $400.7 million withdrawn, according to Farside data.

During the session, BTC prices oscillated between $86,600 and nearly $92,000. This pullback comes after the cryptocurrency reached a new peak above $93,000 earlier this week. Analysts note that such corrections are typical when bitcoin sets new highs, as traders often seize the opportunity to realize gains. Over the past three days, approximately $15 billion in profits have been taken, per Glassnode. Despite the decline, bitcoin remains up more than 25% since Donald Trump’s presidential victory.

ETF activity was varied: BlackRock’s IBIT saw inflows of $126.5 million, maintaining its streak of strong performance since Nov. 7. However, Fidelity’s FBTC experienced $179.2 million in outflows, Bitwise’s BITB saw $113.9 million withdrawn, Ark’s ARKB lost $161.7 million, and Grayscale products together shed $74.9 million.

This marks the third-worst day for bitcoin ETFs in terms of withdrawals. Previous record outflows of $541.1 million on Nov. 4 and $563.7 million on May 1 both coincided with significant market troughs. On Nov. 4, BTC hit a low of $67,000 before climbing past $93,000, while the May outflows preceded a bottom near $60,000.

Traders are now watching closely to see if history will repeat itself, with ETF outflows signaling another price floor before a potential rebound.

Elsewhere, ether (ETH) ETFs saw $3.2 million in outflows—their first withdrawal in nearly two weeks—as investors reevaluate positions in the broader crypto market.