Three reasons why Bitcoin slid under $75,000

The Roundup is Rhino's weekly read for people who'd rather build a process than predict a price.

Bitcoin slipped under $75,000 this week, down about 9% on the month, and still grinding lower since the Binance hack two weeks ago. 

These are the three reasons it kept sliding.

1. The ETF money ran for the exit. Spot Bitcoin ETFs pulled out roughly $1.28 billion between November 2 and 6, and almost all of it — around $1.21 billion — came out of BlackRock's IBIT, the biggest fund of them all. That constitutes their worst week since June. 

But zooming out, the problem worsens. The outflows erased Bitcoin's entire year of institutional gains.

2. Leverage got flushed again. Over about 24 hours around the weekend, more than $1 billion in leveraged crypto bets were wiped out; roughly $931 million of them were bets that prices would go up. It’s the same story as always: too many people borrowed to bet one way on Bitcoin, and got forced to sell when it turned.

3. And this morning, the inflation number lands. October's inflation report comes out today, and it's the hinge for what happens next. A cooler-than-expected read takes pressure off Bitcoin fast, reviving hope that the Fed can ease up, and money flows back toward risk. A hotter one does the opposite. It keeps the Fed tough and gives this slide another leg. 

This week, US stocks rallied — the Nasdaq jumped nearly 3% — and Bitcoin didn't follow. 

For months, Bitcoin has traded like a risk asset, rising and falling with tech stocks. This week it broke that pattern to the downside. That means this isn't the whole market panicking. Stocks are fine. Bitcoin is sliding on its own problems, from the ETF exodus to the hangover from the $6.3 billion Binance hack.

Ultimately, this is Bitcoin-specific pain.

Which raises the real question for the months ahead: when the institutional money that drove 2026 heads for the door, who's left holding the floor? The answer is the people who never sold. The ones who own their Bitcoin and don't trade the headlines. Holders like many of you.

That’ll be the basis for any recovery in Bitcoin’s price — and if the same forces that pushed Bitcoin’s prices from the institutional side were to go back up again — then Bitcoin would be tending towards the upside rather than being tilted to the downside now. 

You can't out-trade an ETF exodus. But you can own Bitcoin and let the big money panic without you:

Catch you next week,

The Rhino Research Team