Bitcoin Sinks Below $97K, Crypto Slumps, As Michael Burry Exits

Bitcoin slid below $97K and altcoins including Ethereum, XRP, and Solana fell sharply after legendary investor Michael Burry shut down his hedge fund, heightening fears over inflated tech valuations.

The broad sell-off erased over $200 billion from the crypto market’s capitalization in the past day, with Bitcoin dropping more than 6% to trade at $96,988 as of 3:10 a.m. EST, according to CoinMarketCap.

BTC price (Source: CoinMarketCap)

Ethereum led losses among top altcoins, sliding 9%, while Solana and XRP declined 8% and 7%, respectively.

Boston Fed President Susan Collins added to market anxiety when she said she sees ”several reasons to have a relatively high bar for additional easing in the near term.”

The CME Group’s FedWatch Tool now shows a 49.6% probability of a rate cut next month, down from 2-to-1 just a few days ago.

Burry Shutters Scion Asset Management

Burry’s decision to deregister Scion Asset Management with the US Securities and Exchange Commission heightened investor anxiety that his move signals a broader pullback from overheated tech sectors.

“My estimation of value in securities is not now, and has not been for some time, in sync with the markets,” Burry said in an Oct. 27 letter to shareholders.

Burry is best known for a prescient bet against the US housing market before it unraveled amid the 2008 global financial crises. 

His exit follows increased criticism of technology heavyweights including Nvidia and Palantir Technologies in recent weeks as he accused them of aggressive accounting to inflate profits from investments. 

Burry said in an X post on Wednesday that he was moving “on to much better things.” 

So, I bought 50,000 of these things for $1.84.
Each of those things is 100 doodads.
So I spent $9,200,000,

Not $912,000,000. @CNBC @WSJ @FT

Each of those doodads let me sell $PLTR at $50 in 2027.

That was done last month.
On to much better things Nov 25th. pic.twitter.com/9Voy3nwiTD

— Cassandra Unchained (@michaeljburry) November 13, 2025

$1 Billion Flows Out Of BTC And ETH ETFs

Outflows from US spot Bitcoin and Ethereum ETFs (exchange-traded funds) totaled more than $1 billion yesterday, underscoring weakening institutional sentiment.

Data from Farside investors shows $866.7 million flowed out of US spot BTC ETFs. Almost all of the Bitcoin investment products saw negative net daily flows on the day. Only Valkyrie’s BRRR and WisdomTree’s BTCW recorded no new flows in the trading session.

Grayscale’s BTC fund posted the largest outflow of $318.2 million. 

𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗘𝗧𝗙 𝗙𝗹𝗼𝘄 (𝗨𝗦$ 𝗺𝗶𝗹𝗹𝗶𝗼𝗻) – 2025-11-13

TOTAL NET FLOW: -866.7

IBIT: -256.6
FBTC: -119.9
BITB: -47
ARKB: -15.7
BTCO: -30.8
EZBC: -5.7
BRRR: 0
HODL: -8.3
BTCW: 0
GBTC: -64.5
BTC: -318.2

For all the data & disclaimers visit:https://t.co/Wg6Qpn0Pqw

— Farside Investors (@FarsideUK) November 14, 2025

US spot ETH ETFs saw record outflows of $259.6 million with BlackRock’s ETHA, Fidelity’s FETH, Invesco’s QETH, and both of Grayscale’s products recording losses.

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