Bitcoin (BTC) spot Exchange Traded Funds (ETFs) registered a considerable $866.7 million in net outflows on November 13th. This marks the second-largest single-day redemption event witnessed since the launch of these funds in January 2024. The magnitude of this exodus exceeded the previous record of $812.3 million observed on August 1st, positioning it as the second-most severe daily redemption on record. The largest single-day outflow remains the $1.1 billion recorded on February 25th.

These significant outflows occurred amid a dip in Bitcoin's price, falling below $100,000, prompting questions within the market regarding whether this represents a broader capitulation or a strategic rotation of capital.