**Key Takeaways**
**How is Bitcoin Performing?**
Bitcoin is currently facing its second-biggest ETF outflows since its launch and could potentially set a new record. Throughout November, Bitcoin (BTC) slipped below the $100,000 mark and continued to trade under that level. This decline coincided with significant outflows from Bitcoin ETFs and poor quarterly returns.
Despite this, the broader crypto market rose slightly by less than one percent. However, the Fear & Greed Index plunged to 17, indicating extreme fear among investors. Overall, the market looks poised to experience one of its worst months ever in terms of BTC ETF outflows and quarterly returns.
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**Bitcoin ETFs: Largest Outflows Yet?**
According to data from SosoValue, Bitcoin ETFs recorded the second-largest outflow of 2025, amounting to $2.33 billion, with the month still only halfway through. If similar outflows continue, November could break the record previously set in February, which saw nearly $4 billion pulled from ETFs.
However, given that Bitcoin’s price has now entered a discount zone after dropping below $100K, there remains potential for these outflows to reverse. The current ETF sell-offs have been driven by overall market weakness, with BTC’s price following suit.
Notably, major players like BlackRock, Grayscale, Bitwise, and Fidelity led the recent outflows within the past 24 hours. BlackRock accounted for more than 4.65K BTC in outflows, representing over 94% of the total 4.94K BTC withdrawn on that day, according to CoinGlass data.
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**Quarterly Returns: Alignment with Market Weakness**
Bitcoin continues to struggle with quarterly returns, alongside Ethereum (ETH), reflecting general market weakness. Since 2018, when BTC lost over 42% in the last quarter, the current quarter’s losses come closest to that decline. However, this year’s quarterly loss is still roughly a third of the 2018 figure.
Other challenging years include 2022 and 2019, with quarterly losses of approximately 14.75% and 13.54%, respectively, as reported by CoinGlass. Ethereum is also experiencing its worst returns since 2019.
These losses highlight waning trader confidence across the crypto sector. Historical data suggests that every red November has been followed by a red December, making a near-term price recovery unlikely. This trend was consistent in 2018, 2019, 2021, and 2022, all showing downturns in the last two months of the year.
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**Will BTC Price Reclaim Support?**
Technical analysis from Trader Tardigrade (via X, formerly Twitter) indicates that BTC has slipped below a key 15-month trendline support. This break reinforces the current weakness observed in Bitcoin and its related products, such as ETFs.
Reclaiming this support level would be a very bullish sign for BTC. Conversely, failure to do so could extend losses further. The next critical support on the downside is around $80,000, while on the upside, resistance is seen near $126,000.
Importantly, a shift in overall cryptocurrency market sentiment would be necessary to reverse the ongoing downtrend affecting price action, returns, and ETF flows. November is on track to mark the largest outflows ever, should the current trend continue.
That said, with prices having declined for over a month and now trading at significant discounts, there remains potential for a rebound in the near future.
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*Stay tuned for more updates on Bitcoin’s performance and market trends.*
https://bitcoinethereumnews.com/bitcoin/bitcoin-november-2025-turns-historic-for-all-the-wrong-reasons/