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Bitcoin declined on Monday as U.S. stocks rallied, breaking a weeks-long pattern of moving in tandem with equities. U.S. spot bitcoin ETFs recorded $201 million in outflows, while miner MARA Holdings disclosed selling 13,597 BTC over six weeks and said it plans further sales.
Bitcoin fell 1.4% from midnight UTC and did not join Monday’s rally in U.S. equities, breaking a weeks-long pattern of moving alongside stocks. The divergence came as U.S. spot bitcoin ETFs lost $201 million and miner MARA Holdings disclosed it sold 13,597 BTC over the previous six weeks, saying it plans to sell more.
The S&P 500 recorded its best session since April 8, while the Nasdaq Composite rose 2.7% on Monday. Bitcoin, which had moved in tandem with Nasdaq futures for weeks—including during an October 30 decline and last week’s AI-led selloff—did not rise with stocks. CoinDesk reported that bitcoin was little changed over the 24 hours to its report, despite the decline measured from midnight UTC.
U.S. spot bitcoin exchange-traded funds recorded $201 million in net outflows on Monday, according to figures cited from Farside Investors. That brought outflows since November 2 to about $1.5 billion. BlackRock’s IBIT had recorded seven consecutive sessions of redemptions. The report also put the funds’ year-to-date flows at roughly $1.1 billion in net outflows, contrasting with more than $20 billion in net inflows in each of the previous two years.
MARA Holdings disclosed that it had sold 13,597 BTC for about $1.1 billion during the preceding six weeks and said it intended to sell additional bitcoin. Separately, data from Santiment showed a decline of about 108,700 non-empty bitcoin wallets since October 16. The report does not establish that these figures caused Monday’s price divergence; they indicate selling and a measure of reduced wallet activity during the period.
Selling Pressure Meets a Stock Rally
The divergence matters because traders had recently seen bitcoin move in step with U.S. equity markets. Monday’s performance shows that relationship did not hold in that session: stocks advanced sharply, while bitcoin failed to follow. That does not, by itself, establish a lasting break in the relationship, but it means equity gains were not enough to lift bitcoin on the day.
The reported ETF withdrawals and MARA sale add evidence of supply and outflows in the market. ETF flow data tracks money entering or leaving those funds; it does not show that every outflow represents a direct bitcoin sale at the same time. MARA’s disclosure concerns its own holdings, and the company’s planned additional sales could add to available supply, though the amount and schedule were not provided in the report.
For readers, the figures are a snapshot of several pressures that may shape market sentiment: fund redemptions, a large miner’s sales, and a fall in the number of non-empty wallets. None independently determines bitcoin’s next move. Cryptocurrency prices can be highly volatile, and investors can lose some or all of the money they put at risk.
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Weeks of Stock Market Alignment
CoinDesk’s report described bitcoin and Nasdaq futures as having tracked each other for weeks before Monday. It cited two recent episodes of declines moving together: October 30 and last week’s selloff linked in the report to AI-related market concerns. Monday offered a counterexample, with the S&P 500 and Nasdaq rising while bitcoin did not follow.
The ETF comparison also provides a longer-term frame. The report said U.S. spot bitcoin funds were down about $1.1 billion year to date, after attracting more than $20 billion of net inflows in each of the prior two years. Those figures refer to fund flows over different periods, not to bitcoin’s price performance. The report’s wallet statistic is based on non-empty addresses tracked by Santiment; it is not a count of verified individual investors.
“U.S. spot bitcoin ETFs lost another $201 million on Monday.”
— CoinDesk, citing Farside Investors
Causes and Sale Timing Remain Unclear
The report documents a market divergence and several flow and holdings figures, but it does not establish why bitcoin failed to rise with stocks or how much each factor contributed. ETF redemptions, MARA’s sales and wallet changes occurred over stated periods; the report does not show that any one of them directly caused Monday’s move.
MARA did not provide, in the material cited, the amount or timing of its planned additional sales. The wallet count does not identify the people or entities behind addresses, and the report gives no comparison baseline for the 108,700-address decline beyond the period since October 16. It is also unclear whether the stock-market divergence will persist or whether ETF flows will reverse.
Watch ETF Flows and MARA Disclosures
Near-term developments to watch include subsequent daily U.S. spot bitcoin ETF flow reports and any further information from MARA about the size and timing of planned sales. Bitcoin’s price response to changes in equity markets may also show whether Monday was a one-session divergence or part of a more sustained shift. The source report did not provide a forecast or a date for a further MARA update.
Monday’s figures are a snapshot, not a guarantee of future market direction. Further price and flow data will be needed to assess whether outflows continue and whether bitcoin again moves in tandem with U.S. stocks.
Key Questions
Why did bitcoin fall while U.S. stocks rallied?
The report records that bitcoin did not follow Monday’s stock-market gains, but does not establish a single cause. It points to ETF outflows and MARA’s reported sales as possible market pressures, not proven explanations for the move.
How much did spot bitcoin ETFs lose on Monday?
U.S. spot bitcoin ETFs recorded $201 million in net outflows on Monday, according to Farside Investors figures cited by CoinDesk. Outflows since November 2 were about $1.5 billion.
How much bitcoin did MARA sell?
MARA Holdings disclosed selling 13,597 BTC for about $1.1 billion over the six weeks before the report. It said it plans to sell more, but the reported material did not specify the amount or schedule.
Does Monday’s divergence mean bitcoin is no longer tracking stocks?
No. The report describes a break in the recent pattern on one Monday. Further market data would be needed to determine whether bitcoin’s relationship with U.S. equities has changed more durably.
Source: coindesk.com
