What FarSide’s flow data shows

The Spot Bitcoin ETFs had already seen outflows of money just before Thursday’s dip. As per FarSide, on October 30, the funds recorded a withdrawal of $643.2 million, followed by $398.6 million on November 2, and $115.6 million on November 3. Over the three-day period, outflows came up to $1.16 billion.

The trend changed on November 4, when the ETFs suffered a dramatically large net inflow of $74.6 million. But the results told a tale of two funds. Fidelity’s FBTC secured $236.7 million in assets while BlackRock’s IBIT was down by $201.2 million. The count for November 5 is not complete yet, with several companies yet to report.

The withdrawals occurred after a previous wave of selling….