Bitcoin Rebounds Above $100K After ~$578M ETF Outflows; Long‑Term Holders Step Up Selling

$100B in Crypto? How Digital Asset Treasury (DAT) Stocks Became the Hottest Trend in Finance

5 November 2025

Dateline: Wednesday, November 5, 2025 — 20:45 UTC

Bitcoin price today: After an overnight slide below the psychologically key $100,000 level, Bitcoin (BTC) bounced back this afternoon. As of 20:45 UTC, BTC trades near $103,901, with an intraday range of $99,021–$104,495. The recovery follows Tuesday’s flush that briefly sent prices to the $98,951 area, the first sub‑$100K print since June. ^[1]

Key takeaways (Nov. 5, 2025)

BTC reclaimed $100K after dipping under the threshold on Tuesday; by late U.S. trade, broader risk assets also stabilized. ^[2]
Spot crypto ETFs saw heavy redemptions: U.S. spot Bitcoin ETFs posted ~$577.7M in net outflows Tuesday; combined BTC+ETH outflows neared ~$797–800M. ^[3]
Long‑term holders (LTHs) have been distributing: LTH supply fell ~300K BTC since July, and on‑chain analysts flag weakening demand near $100K. ^[4]
Macro backdrop mixed: a stronger‑than‑expected U.S. private payrolls print lifted yields and helped equities rebound; Bitcoin turned higher with stocks into the close. ^[5]
Street recalibrates: Galaxy Digital cut its year‑end BTC target to $120K (from $185K) after Tuesday’s plunge; analysts still see $100K as pivotal support. ^[6]

What moved Bitcoin on Nov. 5

ETF flows flipped risk‑off. Fresh data show $577.7M in net outflows from spot Bitcoin ETFs on Nov. 4, alongside $219.4M in outflows from spot Ether ETFs. That’s roughly $797M drawn from the two complexes in one day, the heaviest synchronized red print in weeks, and a key driver of Tuesday’s downdraft. ^[7]

Long‑term holder distribution intensified. Glassnode’s weekly note highlights sustained LTH selling since midsummer, with ~300K BTC leaving LTH supply (14.7M → 14.4M) as the market faded from October’s record high; spot ETF flows have simultaneously cooled (–$150M/day to –$700M/day), leaving price action fragile near $100K. ^[8]

Macro tone steadied into the close. U.S. stocks rallied Wednesday after ADP private payrolls beat expectations, while Treasury yields rose. Bitcoin climbed back above $100K alongside the equity bounce, trimming part of Tuesday’s loss. ^[9]

Whale selling made headlines. Bloomberg reported that long‑time holders have offloaded roughly $45B of BTC in recent weeks—another sign of profit‑taking and rotation. ^[10]

Technical picture: the lines that mattered today

$100,000 remains the pivotal round‑number battlefield after Tuesday’s break and quick reclaim. ^[11]
BTC’s intraday swing tested cycle‑defining MAs: the 365‑day SMA (~$102,055) and 365‑day EMA (~$99,924) served as today’s reference supports during the sub‑$100K dip. ^[12]
A widely watched note pegs $95,000 as “last‑stand” support for bulls—lose it, and the market risks a deeper down‑leg. ^[13]
On higher timeframes, Monday’s breakdown put BTC below the 200‑day moving average (~$109,800), making $109K–$112K the first resistance shelf on rebounds (also near Glassnode’s Short‑Term Holder cost basis ~$112.5K). ^[14]

By the numbers (Nov. 5, 2025, 20:45 UTC)

Spot price: ~$103,901 (24h +~2.9%)
Intraday range: $99,021–$104,495
24h context: BTC rebounded after Tuesday’s drop below $100K to ~$98,951.
Distance from ATH: BTC is down ~20% from early‑October highs near $125,800–$126,000. ^[15]

Positioning & flows

Derivatives clean‑up: One of the largest deleveraging waves since September swept markets, with ~$1.6B in crypto liquidations around the sell‑off. ^[16]
ETF watch: Tuesday’s $577.7M BTC ETF outflow led a five‑day streak nearing ~$1.9B of redemptions; no U.S. BTC spot ETF recorded an inflow that day. ^[17]
On‑chain breadth: Glassnode flags 71% of supply still in profit and Relative Unrealized Loss ~3.1%—consistent with a mid‑cycle cooldown rather than deep capitulation, but demand remains subdued. ^[18]

Context: From October’s record to November’s retest

BTC set a fresh all‑time high above $125,000 on Oct. 5–6, then endured a sharp October drawdown amid global risk jitters, tariff headlines and a broader tech pullback. This week’s retest of $100K keeps Bitcoin roughly >20% below last month’s peak but still well above spring levels. ^[19]

What to watch next

Flows, flows, flows: Daily net creations/redemptions across spot BTC ETFs remain the cleanest near‑term driver. Sustained inflows would help restore the bid under price; persistent outflows keep $100K at risk. ^[20]
Macro tape: Yields, dollar direction, and any progress on the U.S. government shutdown continue to sway risk appetite—BTC tracked stocks higher today. ^[21]
Technical confirmation: Bulls want to hold $100K and reclaim $109K–$112K; bears eye $95K as the next downside test if momentum fades. ^[22]

Sources you can cite today

Reuters: Stocks rebound; Bitcoin up after Tuesday’s losses. ^[23]
CoinDesk: Sub‑$100K print to $98,951; Galaxy cuts target to $120K; $1.6B liquidations; key MA levels. ^[24]
Yahoo Finance / U.Today: ETF outflows (~$578M BTC; ~$797M BTC+ETH). ^[25]
Glassnode: LTH supply –300K BTC since July, ETF outflow cadence, and profit/loss gauges. ^[26]
Reuters (Oct. 6): ATH ~ $125.8K in early October. ^[27]
MarketWatch (Nov. 3): 200‑day MA near $109,800 flagged; next support discussed. ^[28]
Bloomberg: $45B in selling by long‑time holders pressures price. ^[29]

Editorial note: This article is for informational purposes only and does not constitute investment advice. Crypto assets are volatile and high‑risk. Always do your own research.

Real Bitcoin vs. Bitcoin ETFs: Everything You Need to Know

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References

1. www.coindesk.com, 2. www.reuters.com, 3. finance.yahoo.com, 4. insights.glassnode.com, 5. www.reuters.com, 6. www.coindesk.com, 7. finance.yahoo.com, 8. insights.glassnode.com, 9. www.reuters.com, 10. www.bloomberg.com, 11. www.reuters.com, 12. www.coindesk.com, 13. www.coindesk.com, 14. www.marketwatch.com, 15. www.coindesk.com, 16. www.coindesk.com, 17. crypto.news, 18. insights.glassnode.com, 19. www.reuters.com, 20. crypto.news, 21. www.reuters.com, 22. www.marketwatch.com, 23. www.reuters.com, 24. www.coindesk.com, 25. finance.yahoo.com, 26. insights.glassnode.com, 27. www.reuters.com, 28. www.marketwatch.com, 29. www.bloomberg.com

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