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According to ChainCatcher, data from a Bloomberg Intelligence chart released by Bloomberg analyst Eric Balchunas shows that as of November 4, 2025, the cumulative inflow into spot bitcoin ETFs since their launch has reached $59.9 billion. However, there was a net outflow of approximately $2.7 billion over the past month, which accounts for only 1.5% of the total assets under management (AUM), meaning that 98.5% of the funds remain stable. The current total inflow into bitcoin ETFs is still close to its historical high (which reached $62.2 billion on October 9), indicating that ETF capital is showing a “two steps forward, one step back” pattern of volatile growth.

According to Golden Ten Data, as reported by ChainCatcher, the rebound in the U.S. stock market has stalled due to declines in large-cap AI-related stocks and traders interpreting data showing further weakness in the labor market. The S&P 500 index opened down 0.2%, mainly due to declines in the technology and communication services sectors. Nvidia's stock price fell after SoftBank sold all its shares, cashing out $5.83 billion. Citi Research data shows that investors have increased their bearish bets on the stock market over the past week, including a net increase of $3.75 billion in short positions on the Nasdaq. ADP data shows that in the four weeks ending October 25, U.S. private sector jobs decreased by an average of 11,250 per week.