Nov 10, 2026, 7:15 a.m. EST
3 min read
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Bitcoin BTC$73,839.95 had recently been tightly following American equities. On Monday, nonetheless, that correlation ended.
Bitcoin and Nasdaq futures had marched together for weeks, dropping in unison on Oct. 30 and throughout the artificial intelligence-driven selloff last week. Yet yesterday, as the S&P 500 index recorded its strongest performance since April 8 and the Nasdaq Composite climbed 2.7%, bitcoin remained stagnant. The premier cryptocurrency is lower by 1.4% since midnight UTC and shows minimal movement across the past 24 hours.
Market flows provide an explanation for the divergence, with U.S. spot bitcoin exchange-traded funds shedding an additional $201 million yesterday based on data from Farside Investors, bringing total redemptions since Nov. 2 to roughly $1.5 billion. These vehicles are currently negative by about $1.1 billion year-to-date, contrasting sharply with net inflows exceeding $20 billion in each of the previous two years.
BlackRock’s IBIT has now registered seven consecutive days of withdrawals. Meanwhile, selling pressure is expanding as bitcoin miner MARA Holdings (MARA) revealed it unloaded 13,597 BTC for approximately $1.1 billion during the past six weeks, indicating that additional sales are forthcoming. Retail participation appears weak as well, with metrics from Santiment revealing that bitcoin has shed about 108,700 non-zero addresses starting from Oct. 16.
Today’s signal
The macroeconomic framework of Hyperliquid’s HYPE token has remained stable while prices examine primary trendline support between $72 and $74, accompanied by a weekly relative strength index reading of 52, placing it right in the center of the band. Trading underneath the 50-day exponential moving average maintains a neutral-to-bearish short-term outlook.
Immediate price recovery relies on broader liquidity conditions and whether the launch of Elysium, an overarching layer-2 network designed for the Hyperliquid ecosystem, secures persistent total value locked instead of experiencing a sell-the-news downturn.
Originally published at https://www.coindesk.com/daybook-us/2026/11/10/bitcoin-breaks-with-stocks-declines-as-etf-outflows-mount-mara-sells-holdings.
