Stablecoin Drain, ETF Outflows Slash Bitcoin Supply $14.2 Billion

This sharp contraction marks the quickest decline seen since June 2022.

The downturn coincides with lackluster interest in Exchange Traded Funds.

These outflows suggest a significant shift in market sentiment.

The current conditions paint a picture of Bitcoin operating with depleted reserves.

Earlier coverage

• Forensics trace $48.6M drained from Mercado Bitcoin across 11 chains Nov 5
• Bitcoin and Treasury yields fall together in rare divergence as $80,000 recovery fails Nov 3
• Liquid Network says LBTC is fully backed again after September hack Nov 3