In early November, the US spot Bitcoin ETF market witnessed substantial outflows totaling $842.12 million, with significant withdrawals occurring on November 5th and 6th. The majority of these transactions involved BlackRock’s IBIT fund, prompting concerns over market stability. Concurrently, CoinGlass data indicates potential pressure on derivatives trading, with liquidations for short positions likely to increase if Bitcoin surpasses $77,000, and for long positions if it drops below $75,000.