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# Bitcoin ETF Outflows Reach $969 Million as Coinbase Premium Stays Negative
- URL: https://axeladlerjr.com/bitcoin-etf-outflows-reach-969-million-as-coinbase-premium-stays-negative/
- Published: 2026-11-11T07:27:14.000Z
- Updated: 2026-11-11T07:45:14.000Z
- Author: Axel Adler Jr.
- Tags: Liquidity & flows, Adler AM: Bitcoin Morning Brief, #am-cf730317-d3f3-43da-8791-c30c8206f0c4, #etf-flow-monitor, #coinbase-premium-index

Weakness in both fund flows and US spot demand is adding pressure to the market.

Market sentiment

Fear

[Fear & Greed 32/100 · Nov 10, 2026 · 7-day average 32](https://axeladlerjr.com/charts/bitcoin-fear-and-greed-index/)

32

Extreme fearExtreme greed

## TL;DR

US ETF outflows totaled $969 million. The total spans 5 sessions. Coinbase Premium has stayed negative for 70 straight days.

$969M

US ETF outflows over 5 sessions

70 straight days

Coinbase Premium below zero

$766M

Weekly decline in ETF flow measure

−0.14%

Current Coinbase Premium

### US ETF Flow Over 5 Sessions

![US ETF flows over 5 sessions show $969 million in outflows, with the measure down $766 million over the past week.](https://axeladlerjr.com/content/images/2026/11/chart-1-10.png)

US ETF flows over 5 sessions show $969 million in outflows, with the measure down $766 million over the past week.

The measure fell by $766 million over the past week. It was this low or lower on only 15% of days over the past year. Fund demand is now clearly weaker.

Watch for outflows to turn into inflows. That would show whether ETF demand is returning.

### Coinbase Premium: US Spot Demand

![Coinbase Premium stands at −0.14% after remaining negative for 70 straight days, signaling weak US spot demand.](https://axeladlerjr.com/content/images/2026/11/chart-2-10.png)

Coinbase Premium stands at −0.14% after remaining negative for 70 straight days, signaling weak US spot demand.

[Coinbase Premium](https://axeladlerjr.com/charts/bitcoin-coinbase-premium-index/) stands at −0.14%. This is one of the lowest readings of the past year and signals weak demand in the US spot market.

A move back above 0 would signal improvement.

### FAQ

**What Happened After the Last Similar Flow Setup?**  
A similar combination last appeared on July 2, 2026\. Bitcoin traded at $61,560\. A month later, the price was 2.1% higher.

**How Often Has Coinbase Premium Been This Low?**  
Over the past year, it was this low or lower on 9% of days. This is a rare reading.

### Conclusions

Together, the two measures support the case for a continued correction. Demand remains weak through both funds and US spot trading. That view would change if both channels returned to positive territory.

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### Live Charts

Explore the metrics behind this brief with live, auto-updating charts:

[Liquidity Flows](https://axeladlerjr.com/charts/liquidity-flows/) — All exchange-flow, ETF, and spot-demand charts in one view.  
[Coinbase Premium Index](https://axeladlerjr.com/charts/bitcoin-coinbase-premium-index/) — Coinbase vs global market premium as a proxy for US spot demand pressure.  
[Exchange Netflow](https://axeladlerjr.com/charts/bitcoin-exchange-netflow/) — Net BTC moving to and from exchanges across positive and negative flow regimes.  
[BTC US ETF Flow Monitor](https://axeladlerjr.com/charts/bitcoin-etf-flow-monitor/) — US spot Bitcoin ETF daily flow, BTC-denominated accumulation, and fund leadership.