Bitcoin, Ethereum, and Solana gained no more than 0.19% as Nasdaq Composite rose nearly 3%
Outflows from crypto funds intensified pressure on the market
By the evening of November 9, Bitcoin had risen by 0.14% to $74,824.47, Ethereum by 0.11% to $2,126.59, and Solana by 0.19% to $86.48. This performance was notably weaker than that of the Nasdaq Composite, which gained nearly 3% following the recovery of the U.S. stock market.
Last week, U.S. spot Bitcoin ETFs recorded approximately $1.28 billion in net outflows—the largest weekly figure since late June. Investors withdrew another $365 million from Ethereum ETFs, bringing the total outflow for the two categories to roughly $1.65 billion.
Cryptocurrency ETFs also closed Monday lower. The iShares Bitcoin Trust ETF (IBIT) declined by 1.31%, the Fidelity Wise Origin Bitcoin Fund (FBTC) by 1.34%, and the iShares Ethereum Trust ETF (ETHA) by 4.51%.
Ethereum co-founder Vitalik Buterin stated that the long-term value of Ethereum should be based primarily on security, decentralization, and stability, rather than on burning transaction fees. Meanwhile, market attention remains focused on the declining momentum and the upcoming U.S. inflation report.
The article notes that for Bitcoin, the $74,000–$75,000 range is critical: a sustained break below it could amplify losses, while a return above $80,000 would be a more positive signal. Ethereum and Solana are also near key support levels.
