Bitcoin Sinks Below $70K as ETFs Slip Into Red for the Year

Bitcoin fell below $70,000 early Friday, hitting its lowest level since Aug. 19 as U.S. spot bitcoin ETFs slipped into net outflows for the year.

ETF flows turn negative

U.S.-listed spot bitcoin ETFs are now in the red for 2026, with $1.56 billion in net outflows, according to SoSoValue data analyzed by CoinDesk.

The funds were still up about $1.01 billion for the year on Oct. 29, before $643.3 million left on Oct. 30 alone.

They lost another $643.6 million this week through Thursday, after shedding $1.28 billion the week before.

That made it the 12th week this year with net outflows of more than $500 million, compared with 15 such weeks in all of 2025.

Sentiment slides into extreme fear

The Crypto Fear & Greed Index dropped to 20 on Nov. 13, moving into “Extreme Fear” from a reading of 28 a day earlier.

Crypto futures bets worth more than $1.3 billion were liquidated over 24 hours, with bitcoin accounting for $677 million, according to Coinglass.

Prateek Gupta, head of business at Mudrex, said bitcoin had fallen below its 200-day moving average near $73,100.

Thin liquidity meets high leverage

In its weekly report, institutional trading platform Talos said bitcoin’s 1% order-book depth across Binance, Kraken and Coinbase dropped to $72 million on Nov. 9, about 33% below normal.