🟠 Bitcoin ETFs lose $470M after Fed rate cut

U.S. spot Bitcoin ETFs recorded their largest outflow in two weeks — $470 million on Wednesday, the same day the Federal Reserve cut rates by 0.25%. Amid a volatile session, BTC briefly dropped to $108K before rebounding.

📊 Main outflows:

— Fidelity FBTC: −$164M
— ARKB (ARK Invest): −$143M
— BlackRock IBIT: −$88M
— Grayscale GBTC: −$65M
— Bitwise BITB: −$6M

💡 Bottom line: Total net inflows fell to $61B, while AUM declined to $149B, now representing 6.75% of Bitcoin’s market cap.

📈 Context:

— The market slightly recovered after the Trump–Xi Jinping meeting
— Despite outflows, ETFs still hold 1.5M BTC ($169B)
— BlackRock leads with 805K BTC, followed by Fidelity (206K) and Grayscale (172K)

🚀 Michael Saylor says there’s no reason to panic — in his view, Bitcoin will still reach $150K by the end of 2025.

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🤑 The market was shaken, what’s happening with TON?

At one point, TON lost up to 80% of its value and dropped to around 50 cents. Investors quickly bought back TON.

📊 The outcome:
In just an hour, it bounced back to its two-dollar level and continues to fight to maintain this range.

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🟠 Fear returns: index falls to 7-month low

After Bitcoin dropped below $106K, market sentiment plunged into Extreme Fear — the Fear & Greed Index fell to 21 out of 100, twice lower than the previous day.

📉 What’s happening:

— BTC fell to $105,540, then slightly rebounded above $106,500
— The Fear Index was last this low in April, when Trump’s tariffs took effect
— In recent weeks, the market has swung between Neutral and Extreme Fear after October’s crash from $126K

📊 Reasons for the decline:
— Falling institutional demand and on-chain activity
— Hawkish tone from the Fed: the rate was cut, but further reductions in 2025 were ruled out
— Outflows from Bitcoin ETFs reached $800M for the week — for the first time in seven months, buyers no longer cover miner supply

💬 But there’s still hope: November is historically Bitcoin’s best month — averaging +42% growth.

All the bulls need right now is a little faith and one green candle.

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🟠 Saylor stays calm: Strategy won’t sell Bitcoin even in a bear market

Willy Woo is confident that Michael Saylor’s Strategy won’t have to liquidate its Bitcoin reserves — even if the market enters a deep correction.

📊 What the analyst says:

— The company holds $1.01B in convertible debt maturing in 2027.
— To avoid selling BTC, MSTR stock must stay above $183.19, which corresponds to Bitcoin ≈ $91.5K.
— Under current conditions, “it would take a hellishly long bear market” to force Strategy to sell.

💰 The company currently holds 641,205 BTC (≈ $64B). MSTR shares have dropped 6.7%, while Bitcoin has fallen to $101K (−9.9% for the week).

⚠️ Woo sees only one potential risk — a partial liquidation if BTC fails to rally in the next bull run, expected around 2028.

While the market panics, Saylor seems to be simply holding — and waiting for that $1M Bitcoin, just as Wood and Armstrong predict.

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🟠 Institutions are back: Bitcoin ETFs pulled in $240M in one day

After six consecutive days of outflows, U.S. spot Bitcoin ETFs are back in the green — Thursday saw $239.9M in inflows, breaking a $1.4B losing streak.

📊 Top performers:

— BlackRock (IBIT): +$112.4M
— Fidelity (FBTC): +$61.6M
— ARK 21Shares (ARKB): +$60.4M
— Grayscale (GBTC): unchanged for the first time after a week of outflows

💬 According to Bloomberg, even after a 20% correction, total outflows remained under $1B — meaning 99.5% of assets stayed put. Analyst Eric Balchunas noted that investors “hung tough”: the pressure came from within the market, not from external holders.

📈 ETH and SOL ETFs are recovering too:
— Ethereum funds saw their first inflows of $12.5M after $837M in cumulative outflows
— SOL ETFs have shown steady growth since their launch on Oct 28, with $322M in inflows and zero red days

💡 Wintermute named ETFs, stablecoins, and digital treasuries as the three pillars of crypto market liquidity. All three sectors are currently on a plateau — but renewed ETF inflows could mark the start of the next big impulse.

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🟠 Shutdown ends — Bitcoin back in the spotlight

Bitcoin surged 6.7% to $106K as social media exploded with discussions — the $BTC tag became the top trend of recent days.

📊 What’s happening:

— The U.S. Senate on Monday approved a funding bill to end the longest government shutdown in history (40+ days).
— The bill now heads to the House of Representatives and then to President Trump’s desk — reopening the government and restoring operations at agencies like the SEC and CFTC, which had been running with minimal staff.
— Nearly one million federal employees went unpaid, and air travel across the country was disrupted.

📈 Market reaction:
After dipping to $99,300, Bitcoin rebounded 6.7% to $106K.

🗣 According to Santiment, BTC is once again trending across X:

“Optimism around the end of the shutdown and renewed bullish sentiment are driving interest back to Bitcoin.”

💬 Analysts expect BTC to climb toward $150K by year’s end, while over 4 million Square merchants now accept Bitcoin with zero fees — another step toward mainstream adoption.

Bottom line: the shutdown is ending, liquidity is returning, and social media is buzzing.

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🟠 Taiwan prepares report on creating a national Bitcoin reserve

Taiwan’s Premier Chou Jung-tai announced that the government is preparing a report on the volume of confiscated Bitcoin and possible strategies for its use — either selling it or forming a strategic reserve. The document is expected by the end of 2025.

📊 What’s happening:

— Taiwan may follow the example of the United States, where Donald Trump established the world’s first Strategic Bitcoin Reserve in March.
— Lawmakers have proposed not selling confiscated coins until a final decision on reserve creation is made.
— Chou’s report will outline the pros and cons of including Bitcoin in national reserves.

💬 Legislator Ko Ju-chun:

“Studying Bitcoin as a strategic asset and developing friendly regulation would be a true breakthrough for our country.”

🏦 Why it matters:
Ko Ju-chun previously proposed allocating up to 5% of Taiwan’s $50 billion foreign reserves into Bitcoin as a hedge against global economic instability.

💡 Context: In 2024, Taiwan took its first step toward institutional adoption when the FSC launched a pilot for crypto custody services for banks and financial institutions.

The world is moving toward an era where national reserves hold Bitcoin — and now, Asia is ready to join the game.

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🟠 Whale selling isn’t a reason to panic

Analysts at Glassnode believe the recent wave of Bitcoin sales by large holders is normal late-cycle behavior — not a “whale exodus.”

📊 What’s happening:

— A major address belonging to trader Owen Gunden transferred 2,400 BTC ($237M) to Kraken.
— According to Glassnode, long-term holders are currently selling around 26,000 BTC per day, up from 12,000 in July — indicating steady distribution, not panic selling.

“This is classic profit-taking by old investors — a typical end-of-cycle pattern,” analysts noted.

💬 Kronos Research adds:

“A late-stage cycle doesn’t mean the market has peaked — it just means momentum is slowing, and liquidity and macro factors are taking over.”

📈 Key indicators:
— NUPL at 0.476, hinting at a potential local bottom.
— The recent drop is largely macro-driven: Fed rates, shrinking liquidity, and rising investor caution.

BTC Markets reminds that previous market tops occurred roughly every 4 years (2017, 2021), with the last peak on October 6, 2025 — 1,050 days after the cycle bottom.

“It still fits historical cycle logic, but the drivers are changing — ETF flows and corporate funds now move the market more than retail.”

Bottom line: whales aren’t fleeing — they’re realizing profits. The cycle is aging, not dying. The real question is who’s buying when the old hands cash out.

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🟠 Nick Szabo: “Bitcoin is not a magical anarcho-capitalist Swiss army knife”

Nick Szabo, one of Bitcoin’s early ideologists and the author of the smart contract concept, says no blockchain is immune to legal pressure — not even Bitcoin.

📊 Key points:

— Every Layer-1 network has legal exposure: governments can pressure miners, node operators, and wallet services
— According to Szabo, treating Bitcoin as a “magical tool immune to any interference” is delusional
— Regulators can force network participants to remove content or block data — including Ordinals and Runes transactions

🔥 Context
In recent months, the Bitcoin community has been debating Core vs. Knots: should “non-financial spam” (images, videos, audio) via Ordinals and BRC-20 be allowed?
As the conflict escalates, Bitcoin Knots has gained a share of validators from Bitcoin Core, intensifying discussions about “network purity.”

💬 Criticism
The CEO of Seedor responded to Szabo:

“Bitcoin’s resilience isn’t about predicting every law, but about minimizing the points where pressure can be applied.”

Bottom line: even Bitcoin legends remind us — the network’s strength comes from architecture and decentralization, not mythology.
There is no sacred armor against jurisdictions — only a balance between code and law.

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