Bitcoin fell below $97,000 and altcoins including Ethereum, XRP and Solana fell sharply after legendary investor Michael Burry closed his hedge fund, raising fears of inflated technology valuations.
The broad sell-off has wiped more than $200 billion from the crypto market’s capitalization over the past day, with Bitcoin falling more than 6% to trade. for $96,988 as of 3:10 a.m. ESTaccording to Unpleasant CoinMarketCap.
BTC price (Source: CoinMarketCap)
Ethereum led losses among the top altcoins, falling 9%, while Solana and XRP fell 8% and 7%, respectively.
Susan Collins, president of the Boston Fed, worried the market when she said she sees “several reasons to set the bar for additional easing relatively high in the near term.”
That of the CME group 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 U.S. Securities and Exchange Commission heightened fears among investors that his move would signal a broader retreat from overheated tech sectors.
“My assessment of security values ​​is now, and has been for some time, out of line with the markets,” Burry said in an Oct. 27 letter to shareholders.
Burry is best known for his prescient look at the U.S. housing market before it collapsed during the 2008 global financial crises.
His departure follows increased criticism of tech heavyweights, including Nvidia and Palantir Technologies, in recent weeks, when he accused them of aggressive accounting to inflate profits from investments.
Burry said in an X-post on Wednesday that he was “on his way 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 $9,200,000Not $912,000,000. @CNBC @WSJ @FT
I could sell any of those doodads $PLTR for $50 in 2027.
That was done last month.
On to much better things November 25. pic.twitter.com/9Voy3nwiTD— Cassandra Unchained (@michaeljburry) November 13, 2025
$1 billion flows out of BTC and ETH ETFs
Outflows from US Bitcoin and Ethereum ETFs (exchange traded funds) totaled more than $1 billion yesterday, underscoring weakening institutional sentiment.
Farside Investor Data shows $866.7 million flowed out of US spot BTC ETFs. Nearly all Bitcoin investment products had negative net daily flows that day. Only Valkyrie’s BRRR and WisdomTree’s BTCW recorded no new flows during the trading session.
Grayscale’s BTC fund had the largest outflow of $318.2 million.
(𝗨𝗦$ 𝗺𝗶𝗹𝗹𝗶𝗼𝗻) – 13-11-2025
TOTAL NET FLOW: -866.7
GA: -256.6
FBTC: -119.9
BITB: -47
ARKB: -15.7
VAT CO: -30.8
EZBC: -5.7
BRRR: 0
HODL: -8.3
VAT: 0
GBTC: -64.5
BTC: -318.2For full details and 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 Grayscale products posting losses.
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