# Stablecoin Drain, ETF Outflows Leave Bitcoin ‘Running on Empty’

- URL: https://talkfuse.com/story/stablecoin-drain-etf-outflows-leave-bitcoin-running-on-empty/
- Published: 2026-11-11T21:46:03+00:00
- Updated: 2026-11-11T22:27:24+00:00
- Original publisher: Decrypt
- Original article: https://decrypt.co/383094/stablecoin-drain-etf-outflows-bitcoin-running-empty
- Topics: Business, Crypto

## Key points

- Stablecoin supply shrank by $14.2 billion in 30 days.
- Bitcoin traded near $73,000 as ETF outflows continued.
- Glassnode sees $73,000 as key support.

## Summary

Crypto’s supply of dollar-linked stablecoins fell by $14.2 billion in the 30 days to 9 November, the fastest contraction since June 2022, leaving the total just below $280 billion. Glassnode says the drop suggests money is leaving crypto, reducing the cash available to buy assets and helping explain why Bitcoin has been struggling.

US spot Bitcoin exchange-traded funds recorded about $1.6 billion in net redemptions over 20 trading sessions, while Bitcoin traded near $73,000, below the roughly $75,600 average cost for short-term holders. Glassnode cited signs that could limit further pressure: leveraged long positions have largely been cleared, buy orders exceed sell orders, and some large wallets are accumulating. It identified $73,000 as key support; meanwhile, banks are competing with established stablecoin issuers and the Federal Reserve has introduced rules on reserves and capital.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.